Coal imports by the country has extended its rise on the monthly basis as it increased 5% on the month to 4.26 mn t in Oct ’20 compared with 4.07 mn t in Sep ’20. The volume was also 3% higher on the year from 4.14 mn t in Oct ’19.
During the first 10 months of CY ’20 (Jan-Oct ’20), total coal imports have reached 36.57 mn t, up 11% y-o-y from 32.98 mn t recorded in the corresponding period of previous year, driven by limited lignite output and hydro-power availability.
Notably, EUAS, country’s largest electric power company, had reduced its hydro output to bring day-ahead power prices to levels that trigger greater output from imported coal-fired units in order to support the economy by generating higher import-tax revenues.
Major Coal Suppliers:
Colombia remained the largest coal supplier to Turkey in Oct ’20. Coal exports increased 8% m-o-m to 1.71 mn t, but was down by the same percentage from the levels attained in the year-ago month.
Coal supplies from the second-largest exporter-Russia were down to a 5-month low of 1.21 mn t, as it decreased 26% m-o-m from 1.64 mn t in Sep ’20.
In contrast, coal intake from South Korea saw a significant growth m-o-m, rising almost 3-folds to 0.62 mn t in Oct ’20. Interestingly, total volume accumulated from the country in the first 10 months of CY ’20 has already surpassed the sum recorded for CY ’19.
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