Ganqimaodu border crossing, China's largest inland road port for coal imports from Mongolia, imported a total 1.76 million tonnes of coal in the year to January 15, said the border port authorities.

The port handled 1.79 million tonnes of cargoes (including imports and exports) during this period.

Imports of copper concentrate were at 34,300 tonnes, while the border crossing exported 9,100 tonnes of goods.

In December 2023, Mongolian miners sold about 3.43 million tonnes of coal via 34 e-auctions, accounting for 99.6% of the total auction volume. Miners also sold roughly 192,000 tonnes of coal via 7 e-auctions during January 1-15 in 2024, taking up 54.5% of the total volume.

Mongolia has tried to adjust coal prices in accordance with global coal prices, and this caused market volatility due to unstable prices and squeezed profit margins of Chinese companies. The delivery duration was also extended from the original 30-45 days to 120 days, according to the border port authorities.

(Writing by yan.sun  Editing by Emma Yang)
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