Summary
[Multi-country global rush for coal to European coal imports surged by 40%]In early April, the European Union approved an embargo on Russian coal. The United States and the United Kingdom also announced a ban on Russian coal, followed by Japan, the world’s third largest coal importer. Russia is Japan’s second largest source of thermal coal imports and the third largest source of coking coal imports, while 45% of EU coal imports come from Russia. In order to make up for the huge gap in coal demand, various countries have begun to look for new sources of coal supply. European buyers are accelerating coal purchases from around the world. (CCTV Finance)
In early April, the European Union approved an embargo on Russian coal. The United States and the United Kingdom also announced a ban on Russian coal, followed by Japan, the world’s third largest coal importer. Russia is Japan’s second largest source of thermal coal imports and the third largest source of coking coal imports, while 45% of EU coal imports come from Russia. In order to make up for the huge gap in coal demand, various countries have begun to look for new sources of coal supply. European buyers are accelerating coal purchases from around the world. European countries imported 809,000 tons of coal from the United States in March, 1.3 million tons from Colombia and 287,000 tons from South Africa. Total imports increased by 40.5% year-on-year. At the same time, Japan is also frantically grabbing coal recently.
(Article source: CCTV Finance)