South Korea: Coal Imports Down 12% M-o-M in Feb’18

South Korean coal imports have fell 12% on the month to 11.57 MnT in Feb’18, against 13.15 MnT in Jan’18, as per the data provided by customs. Coal imports were also 7% lower on the year compared with 12.5 MnT in Feb’17.

During the first two months of the CY18 (Jan’18-Feb’18), the country has imported 24.72 MnT coal, which was down 6% Y-o-Y compared with 26.18 MnT in the corresponding period of 2017.

As a measure to improve air quality standards, South Korean government is planning temporary closure of 5 thermal power plants, which is likely to affect the country’s coal imports in the coming months.

Grade-wise Coal Imports:
Imports of all the major coal grade had fallen on the monthly basis, expect Met Coke, whose import was almost unchanged from the previous month, at 0.03 MnT in Feb’18.

Non-coking coal imports were down 8% M-o-M to 8.71 MnT, while Coking coal imports too had decreased 23% on the month to 1.68 MnT in Feb’18.

Anthracite and Pet Coke imports had also recorded similar fall of 9% and 27% respectively during the month.

Source: South Korea Customs
Quantity in MnT

Major Coal Exporters:
Australia remained the largest coal exporter to South Korea in Feb’18. However, Coal exports from Australia had fell 20% M-o-M to 3.45 MnT during the month, which was also 9% lower on the year compared with 3.78 MnT in Feb’17.

Indonesia and Russia had also recorded fall in coal exports both on the monthly as well as on the yearly basis. Indonesian coal export was down 20% M-o-M to 2.94 MnT in Feb’18, while Russian coal export was 1.98 MnT during the month.

During Feb’18, among the top 7 coal exporters, only Canada and South Africa had recorded growth in coal supplies to South Korea on the monthly basis. US, Colombia, China and Vietnam were the other major coal exporter during the month.

Source: South Korean Customs