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Chinese imports of coal surged to a monthly high in September, driven by increased consumption and falling international coal prices.
China imported last month a total of 47.59 million metric tons of coal, a 13% increase from September 2023, data from the country’s General Administration of Customs showed on Monday.
Coal-fired power generation has returned to growth in China in recent weeks, while coal demand from the chemicals sector has also been boosting consumption, analysts have told Reuters.
Amid increasing demand and a drop in international prices, China imported the record-high volume of coal in September as foreign supply was cheaper than domestically mined coal.
The Asian benchmark of coal prices, at Newcastle in Australia, were falling for most of last month. The lowest level in September, at $136.46 per metric ton on September 23, was a 7% decline from the August high of $147.13 per ton, according to Reuters’s estimates.
China saw in August the first increase in coal-fired power generation in four months as coal remains a vital part of the system despite soaring output from clean energy sources and a growing share of renewables in the electricity mix.
China’s electricity output from thermal sources – which are predominantly coal-fired – increased by 3.7% in August compared to the same month last year, according to official Chinese data cited by Reuters columnist Clyde Russell.
While China is pursuing rapid expansion of its renewable energy capacity, it isn’t ditching coal. The world’s second-largest economy leads in global renewable investments and installations and has a dominant role in many of the clean energy supply chains, including solar equipment, lithium processing, and mining and processing of other critical battery metals.
But China also continues to expand its coal-fired power fleet as its electricity demand grows, to ensure energy security and stable electricity supply, especially in peak demand periods.
