Canadian coal exports have increased 18% on the year to 2.58 MnT in Jan’19, but it was 25% lesser on the month from 3.46 MnT recorded in Dec’18.
Coal exports attained a 4-year high total by posting a 4% Y-o-Y growth in CY18, due in part to rise in steel production capacity growth and have continued the y-o-y rising trend at the start of CY19 too.
Australian Resources and Energy has highlighted in its report that Canada’s coal industry would be boosted by high prices last year which have driven renewed interest in various coal projects. Consequently, the country plans to bring idled projects back online.
In terms of global coal market, it was stated that China’s import demand was expected to decline, with fall in steel production due to moderate economic growth and rise in scrap usage.
Notably, China had witnessed the heaviest fall in coal import from Canada m-o-m during Jan’19.
The fall in coal intake from South Korea and Japan had also contributed to the monthly decline in Canadian coal exports.
A destination-wise break up of Canadian coal exports indicates that South Korea remained the largest coal receiver from Canada in Jan’19. However, Korean import was 52% lower on the month recorded at 0.47 MnT in Jan’19.
India emerged as the second-largest coal importer with 0.45 MnT coal, marking 5% increase m-o-m in Jan’19.
Japanese coal import fell 47% M-o-M to 0.41 MnT in Jan’19 against 0.78 MnT in Dec’18, which was also 25% lower on the year from 0.55 MnT in Jan’18.
Chinese imports were down by a bigger margin, as it decreased 54% M-o-M to 0.26 MnT in Jan’19.
US, Netherlands, Vietnam and Poland were the other major coal receivers from Canada in Jan’19.
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