中文
China witnessed a revival in its coal imports from Australia in 2023 following the lifting of a nearly two-year unofficial ban, but the import volume remained below the levels seen before the ban, as Australia faced competition from lower-cost suppliers like Mongolia and Russia, Reuters reported.
China imported 52.47 million tonnes of Australian coal in 2023, a significant increase from 2.86 million tonnes in 2022, according to data from General Administration of Customs (GAC). Nonetheless, this figure fell short of the 77.51 million tonnes imported in 2020, the last full year prior to the ban's implementation.
The restrictions on Australian coal were removed in January 2023, as part of a series of steps taken by China after the election of Prime Minister Anthony Albanese. In addition, the Chinese government agreed to remove tariffs on Australian barley and review duties on wine during the previous year.
Coal shipments from Australia totaled 6.71 million tonnes in December last year, up 6.4% from November's 6.31 million tonnes.
Meanwhile, China's overall coal imports reached a record high of 474.42 million tonnes in 2023, marking a 61.8% surge compared to 2022, GAC data showed. December's imports also hit an all-time high of 47.3 million tonnes as buyers rushed to import coal before China re-adopted certain import tariffs this month.
Indonesia remained China's largest coal supplier, exporting 220.25 million tonnes in 2023, a 29% increase from 2022, primarily through annual supply contracts.
Russian coal imports experienced continued growth in 2023, rising 50% to 102.13 million tonnes. China had substantially increased its imports from Russia in 2022 when Western nations halted trade with Russia, allowing China to benefit from discounted prices. However, the imposition of a new export duty on coal and other commodities in October of the same year made Russian imports less appealing.
China's imports from Mongolia, mainly coking coal, more than doubled in 2023, reaching 69.97 million tonnes, data showed.
Starting from this month, importers of Russian and Mongolian coal are subject to a 3-6% tariff rate, while Australian and Indonesian coal are exempted under free trade agreements.
Nevertheless, analysts predicted that the import tariffs are unlikely to have a significant impact on China's imports in 2024.
(Writing by Riley Liang Editing by Emma Yang)
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