Canada: Bulk coal exports rise over 10% m-o-m in Apr’26 on stronger coking coal demand

• Coking coal exports drive monthly recovery
• Weak thermal coal demand pressures trade

Canada’s total coal exports increased by 11% m-o-m to 3.54 million tonnes (mnt) in April 2026, compared to 3.2 mnt in March. The monthly growth was primarily supported by a strong recovery in coking coal shipments, which rose 26% m-o-m to 3.33 mnt from 2.65 mnt in March. However, on a y-o-y basis, coking coal exports were marginally lower by 2%, reflecting softer global steel sector demand compared to last year.

In contrast, non-coking coal exports declined sharply by 61% m-o-m to 0.21 mnt, down from 0.55 mnt in March and significantly lower by 71% y-o-y, indicating persistent weakness in thermal coal demand across key markets. Overall coal exports were also lower by 14% y-o-y, highlighting continued pressure on Canada’s seaborne coal trade despite the monthly recovery.

Japan leads recovery in Canadian coal imports

Among destination countries, Japan remained the largest importer of Canadian coal during April, with shipments rising sharply by 78% m-o-m to 1.25 mnt from 0.7 mnt in March. The increase was mainly driven by improved coking coal demand from steel mills and active procurement following lower arrivals in the previous month.

However, exports to Japan were still slightly lower on an annual basis. South Korea’s imports declined by 25% m-o-m to 0.87 mnt, while remaining down 17% y-o-y, reflecting cautious buying and adequate inventory levels.

Meanwhile, exports to China fell significantly by 44% m-o-m to 0.17 mnt, down 70% y-o-y, amid weak steel demand and increased competition from alternative suppliers. Shipments to Hong Kong also declined by 9% m-o-m to 0.24 mnt. Exports to Indonesia decreased by 14% to 0.16 mnt, though volumes were sharply higher by 105% y-o-y from 0.08 mnt in April.

Exports to other countries increased strongly by 71% m-o-m to 0.84 mnt, indicating diversified demand across smaller markets. Overall, stronger metallurgical coal demand from Asian steelmakers supported export growth in April, while weak thermal coal consumption continued to pressure non-coking coal exports.