In October 2023, Russia’s coal supplies to China decreased to 7.64 million tons, the lowest figure since February. The agency reports that Reuters According to Chinese customs data.
One of the reasons was that the Russian Federation introduced export duties on certain goods, including coal, from October 1. Traders announced that prices of Russian coal in eastern ports rose to $102/ton, while Australian coal rose to $95/ton.
At the same time, supplies from the Russian Federation for the 11 months of 2023 increased by 19% annually. The decline also affected supplies from Mongolia and Indonesia.
Chinese thermal power plants have accumulated large coal reserves compared to previous years, reducing demand. Purchasing interest is for low and medium calorie 3800-4200 kcal/kg coal.
previously economist explained Reasons for the sharp decline in Russia’s coal exports.
Previously, Russian coal miners’ income in the first half of 2023 fallen increased by 29% compared to the same period last year.
Source: Gazeta
Ben Stock is a business analyst and writer for “Social Bites”. He offers insightful articles on the latest business news and developments, providing readers with a comprehensive understanding of the business world.