Chinese coal imports from Russia rose by 6% in March despite sanctions

China’s coal imports from Russia increased by 6% in March, reaching 7.33 million tonnes compared to the same month last year.

Source: data from the General Administration of Customs, as reported by Reuters

Details: Despite Western sanctions, Russian coal exports to China continue to grow.

Meanwhile, coal imports from Indonesia – China’s largest coal supplier – fell by 9% to 17.96 million tonnes. This decline followed Indonesia’s decision to implement a government-set benchmark price as the minimum price for transactions starting 1 March.

Overall coal imports into China fell by 6% in March. This drop was driven by high port stockpiles and weak domestic demand, which pushed spot prices down to a four-year low.

Background: In April, exports of Russian Arctic oil to China are growing sharply, supported by ship-to-ship (STS) transfers at sea, which help bypass US sanctions.

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