Vietnam: Bulk coal imports surge m-o-m in Mar’26 but Q1 volumes still down y-o-y

Vietnam’s bulk coal imports rose 44.5% m-o-m to 3.97 mnt in Mar’26, but declined 26.5% y-o-y, reflecting uneven demand recovery. Indonesia remained the top supplier at 2 mnt, up 30% m-o-m, followed by Australia at 1.65 mnt (+63%). Conversely, imports from Russia declined by 19% m-o-m at 0.18 mnt. Overall, Q1 2026 (Jan-Mar) imports declined 15% y-o-y to 11.1 mnt, reflecting subdued consumption.