Largest Buyers Of Russian Coal Sharply Reduced Purchases
- 5.11.2024, 12:36
- 2,944
Turkey has “let down” Moscow the most.
China, India, and Turkey, which became the largest buyers of Russian coal after the EU embargo, have sharply reduced their purchases of solid fuel from Russia since the beginning of the year, two sources familiar with the Ministry of Energy statistics told Vedomosti.
According to them, in January-September 2024, exports to China fell by 9.5% year-on-year, to 53.7 million tons, to India — by 23%, to 20.1 million tons, and to Turkey — by 35%, to 15.3 million tons. Exports to South Korea (by 1.6 times year-on-year, to 5 million tons) and Japan (by 9.3 times, to 385,600 tons) also significantly decreased.
Shipments of Russian coal to the UAE over the nine months decreased by 20% compared to the same period in 2023, to 3.1 million tons. At the same time, exports increased significantly to Vietnam (by 4.7 times, to 1.1 million tons) and Hong Kong (by 10%, to 10.4 million tons). Among the neighboring countries, Belarus increased its coal imports from Russia most significantly — by 17 times, to 5.7 million tons. Supplies to Kazakhstan increased by 33%, to 452,900 tons, and to Abkhazia — by 3.4 times, to 78 thousand tons. Total coal exports from Russia in January-September fell by 14% year-on-year, to 132.5 million tons. Exports of thermal coal amounted to 108.3 million tons, which is 17% less than in the same period last year. Coking (metallurgical) coal supplies, on the contrary, grew by 3%, to 24.3 million tons. At the same time, in September, total Russian coal exports decreased by 21.5% year-on-year, to 12.5 million tons.
According to Vedomosti sources, coal production in Russia in January–September decreased by approximately 1% year-on-year, to 320.4 million tons. The growth in production was supported by an 8% increase in shipments to Russian consumers, to 143.3 million tons, as well as an increase in coal reserves by 9%, to 42.7 million tons.
According to the Ministry of Energy, in 2023, coal production in Russia decreased by 1.1%, to 438.7 million tons, and exports fell by 3.9%, to 212.5 million tons. The largest importers of Russian coal in 2023 were China (100.9 million tons). t, +50 to the 2022 figure) and India (26 million t, +31%).
The embargo on coal supplies to the EU has hit the Russian coal industry hard, says Janis Kluge, a research fellow at the German Institute for International Security Studies. According to the assessment of the AC TEK, a state analytical center under the Ministry of Energy, the coal industry has become unprofitable in 2024: its losses before tax are estimated at 34 billion rubles, although a year earlier, coal miners made a profit of 357 billion. As a result, the coal industry, which is one of the largest raw materials industries of the economy, is on the verge of bankruptcy, analysts noted.
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