South Korea: Coal Imports Up 17% M-o-M in Oct’19

South Korean coal imports have rebounded after falling in Sep’19, to record an monthly rise of 17% during Oct’19.

Data provided by South Korean customs indicate that the country had imported 13.44 MnT in Oct’19 as against 11.45 MnT in Sep’19, which was also 13% higher on the year from 11.87 MnT noted in Oct’18.

Higher coal imports were apparently boosted by a decrease in commodity price registered in the past month on the back of strong local currency and cheaper crude oil. Notably, price for imported coal and oil products retreated 4.4% in Oct’19 from the previous month, data provided by Bank of Korea showed.

However, government’s decision to shy-away from coal-fired power generation, has weighted down South Korean coal imports by 5% in the first 10 months of CY19, marked at 118.25 MnT in comparison with 125.22 MnT noted in year-ago period.

Grades-wise Coal Imports:
Imports of all the coal grades had increased on the monthly basis, with non-coking coal leading the way by attaining a 3-month high total in Oct’19. Imports of non-coking coal were up 4% M-o-M to 10.17 MnT in Oct’19.

Coking coal imports by the country surged 80% on the month to 2.22 MnT, which was accompanied by a significant rise seen across intake of Anthracite and coke products.

Source: South Korea customs
Quantity in MnT

Major Coal Exporters:
Coal exports from the chief supplier-Australia rose to a 9-month total during Oct’19, recorded at 4.91 MnT. Coal volume was up 18% M-o-M from 4.16 MnT in Sep’19, which was also 31% higher on the year from 3.74 MnT in Oct’18.

Russia emerged as the second-largest coal supplier to South Korea with exports of 2.84 MnT in Oct’19, rising 28% on the month from 2.22 MnT in Sep’19.

Indonesian coal exports slipped 8% M-o-M to 2.54 MnT in Oct’19 compared with 2.76 MnT in Sep’19.