South Korea: Coal Imports Down 13% M-o-M in Feb’19

South Korean coal imports have decreased 13% on the month, following a decline in non-coking coal shipments during Feb’19. Preliminary data from customs indicate that the country has imported 11.99 MnT coal in Feb’19 against 13.81 MnT in Jan’19.

Despite the monthly fall, Korea had maintained the steady rise in imports y-o-y for the second successive month in CY19. Import during Feb’19 was 4% higher on the year from 11.57 MnT in Feb’18.

The country has imported 25.8 MnT coal in the first two months of CY19, up 4% Y-o-Y from 24.72 MnT in the same period of CY18.

Grade-wise Coal Imports:
South Korean import of non-coking coal decreased 23% M-o-M to 8.65 MnT in Feb’19, from 11.17 MnT in Jan’19.

Fall in non-coking coal shipments was the only decline noted among the major coal grades during the month.

Coking coal imports increased 19% M-o-M to 2.07 MnT, along with Anthracite shipments which improved 44% on the month to 0.78 MnT in Feb’19.

Import of Pet Coke and Met Coke had also recorded growth m-o-m, marked at 0.24 MnT and 0.22 MnT respectively.

Source: South Korean customs
Quantity in MnT

Major Coal Exporters:
South Korea had witness increased deliveries from Russia and US on the monthly basis, but it was insufficient to offset the slump in shipments recorded from Australia, Indonesia and Canada.

Australia remained the largest coal supplier to South Korea, but has witness a 20% drop in monthly supplies during Feb’18.

Australian coal exports was 4.25 MnT in Feb’19 against 5.33 MnT in Jan’19, but was 23% higher on the year from 3.45 MnT in Feb’18.

Indonesian coal export was down 30% M-o-M to 2.91 MnT, which also marked 1% lower on the year from 2.94 MnT in Feb’18.

Russian coal exports to South Korea increased 17% M-o-M to 2.02 MnT in Feb’19, also rising 2% on the year from 1.98 MnT in Feb’18.

Canada (1.04 MnT), US (0.52 MnT), South Africa (0.32 MnT) and Colombia (0.29 MnT) were among the other major coal suppliers to South Korea in Feb’19.