In April, not only did the world's second largest economy buy more coal from Russia than ever before, it also eliminated import tariffs on all types of coal, a move analysts say will mainly benefit Russian suppliers
In April, not only did the world's second largest economy buy more coal from Russia than ever before, it also eliminated import tariffs on all types of coal, a move analysts say will mainly benefit Russian suppliers. China's coal imports from Russia nearly doubled between March and April, reaching 4.42 million metric tons, according to trade data from Refinitiv.
As the pool of buyers gets smaller, those importers who are able and willing to buy coal from Russia are"paying much lower prices for this supply compared with coal sourced from other origins," Hassall said. China mined a record amount of coal in 2021. It might produce even more this yearIn April, premium Russian coking coal delivered to Jingtang port in northern China was priced at 2,710 yuan per metric ton, according to Chinese industry data provider MySteel.
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