South Korean coal import has fallen on the monthly basis. The country imported 11.33 MnT coal in May’17, down by 3% M-o-M compared with 11.69 MnT in Apr’17.
On the Y-o-Y basis, coal imports have increased by 7% compared with 10.62 MnT in May’16, according to the customs data.
During the first 5 months of 2017, South Korea increased its coal imports compared with that in the corresponding months of 2016. During Jan’17-May’17, Korea has imported 61.41 MnT coal against 57.4 MnT imported during Jan’16-May’16, thus recording an increase of 7% during the period.
South Korea has been heavily dependent on coal and nuclear reactors for its power requirements. However, the newly elected president, Moon Jae-in has proposed new energy strategy that would lower the usage of Coal and Nuclear energy in favour of both natural gas and renewable sources like hydro and solar.
The decision to shut down old coal-fired power plants highlights the government’s approach in this regard.
Grade-wise Coal Imports:
South Korea majorly imports Non-coking coal along with Coking coal, pet coke, Met coke and other grade of coal.
During the month share of Non-coking coal in total coal imports has fallen from 73% in Apr’17 to 67% in May’17. Also, Non-coking coal imports have decreased by 11% M-o-M to 7.62 MnT in May’17.
Imports of all the remaining coal grades have increased during the month.
| Grades | May’17 | Apr’17 | M-o-M |
| Non Coking Coal | 7.6 | 8.57 | -11% |
| Coking Coal | 2.152 | 1.91 | 13% |
| Anthracite | 0.58 | 0.56 | 4% |
| Pet Coke | 0.12 | 0.05 | 140% |
| Met Coke | 0.04 | 0.03 | 33% |
| Others | 0.82 | 0.58 | 41% |
| Grand Total | 11.33 | 11.69 | -3% |
Source: South Korean Customs
Quantities in MnT
Major Exporting Countries:
Australia has remained the top coal exporter to South Korea in May’17, followed by Indonesia, Russia, Canada and the US.
Australia supplied 3.53 MnT during the month. However coal exports have fallen by 5% M-o-M from 3.72 MnT in Apr’17 and by 3% Y-o-Y compared with 3.65 MnT in May’16.
Indonesia, second-largest coal exporter, supplied 2.82 MnT in May’17. The country also recorded a decline in its coal shipments on the monthly as well as on the yearly basis.
Russia was the third-largest coal exporter in May’17. Coal exports from Russia increased 3% M-o-M to 2.51 MnT in May’17. Besides, exports in May’17 jumped 35% Y-o-Y compared with 1.86 MnT in May’16.
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