Thus, exports to India fell by greater than half, to 4.7 million tons, to Turkey – virtually twice, to 4.1 million, and to China – by 16 %, to 12.9 million. South Korea (1.7-fold drop, 1.4 million tons), Japan (3.7-fold drop, 449 thousand tons) and Taiwan (11-fold drop, to 95 thousand tons) additionally started to desert Russian coal at an accelerated tempo. ).
Partially compensating for the decline was a rise in provides to Hong Kong (plus one %, 2.5 million tons), the UAE (plus eight %, 2.1 million tons), Belarus (38 occasions, 2.2 million tons), and Kazakhstan (plus 15 %, 150 thousand tons) and to Abkhazia (1.8 occasions, as much as 41 thousand tons).
Nevertheless, complete coal exports in annual phrases fell by 12 %, to 42.9 million tons, together with provides to non-CIS international locations by 17 %, to 40.4 million.
On the identical time, coal manufacturing even elevated by three % from January to March, to 112 million tons. It’s supported by home consumption, which grew by one %, in addition to work on the warehouse – inventories elevated by virtually 14 %.
Market individuals surveyed by the publication see three causes for this pattern: low world costs, costly logistics and, in consequence, a lower in demand for Russian coal.
By early April, costs for thermal coal from Russia had fallen to their lowest degree since 2021, however logistics prices remained unchanged. The share of unprofitable firms on the finish of February elevated to 45.9 %. Western sanctions had been a separate issue – some Chinese language firms switched to coal from Indonesia as a consequence of difficulties with funds.
In India, the nation’s authorities are actively growing their very own manufacturing, and Turkey is confronted with the truth that Russian coal miners don’t wish to incur losses from provides by means of the port in Taman, demanding a big discount in transshipment tariffs.
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2024-05-17 22:59:42
