China more than doubled its import of steel-making coal from Russian in March. The purchases were made at deep discounts as other nations shunned away from Russian deliveries amid war in Ukraine.
Coking coal imports from Russia jumped to 1.4 million tons in March, compared to 590,000 tons for the same month last year and 1.1 million tons in February, according to Chinese customs data as reported by Bloomberg.
Imports of thermal coal, used for power generation, fell as mild weather curbed demand and China boosted domestic output.
Despite international roadblocks in terms of payments and logistics, China increasingly showing its interests in purchasing hefty discounted Russian coal and fuels.
Although China is boosting its domestic coal output – its mine produce low quality and unsuitable coal for steel production. This also implies China is depended on overseas supplies for coking coal.
