China saw a record-high coal import volume in 2024, although imports from its second-largest supplier, Russia, dropped by 7%. This decrease was due to intensified U.S. sanctions on Russian coal exports and China reintroducing tariffs on Russian coal.
According to Chinese customs data, China imported 93.86 million metric tons of coal from Russia in 2024, a 7% decrease from the previous year.
Meanwhile, total coal imports into China surged by 14.4%, reaching 542.7 million tons, marking a new record. Analysts attribute this increase to falling global seaborne coal prices, which created an import opportunity for China.
As the world’s largest coal importer, China increased its imports from Indonesia by 8%, totaling 236.99 million tons.
Imports from Australia also experienced a significant rise, up by 59% to 83.24 million tons in 2024. This boost followed China’s removal of an unofficial ban on Australian coal, which had been in place since 2020 due to diplomatic tensions between the two nations. The ban was lifted after China and Australia resolved their disputes, leading to a sharp increase in Australian coal imports.
Despite the rise in imports from Indonesia, Australia, and other suppliers like Mongolia, Russia was the only major exporter to see a decline in coal exports to China in 2024.
This drop came as U.S. sanctions on Russian coal intensified and China reinstated its tariffs on Russian coal at the start of the year, making it harder for Russian exporters to maintain their foothold in the Chinese market.
Even with the dip in Russian imports, China’s overall coal purchases hit a record high in 2024. This strengthened China’s position as the world’s largest coal buyer, widening its lead over the second-largest importer, India, to the highest level in more than a decade.
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