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South Korea coal imports rise 4% as non-Asia supply swells

South Korea imported 10.1m tonnes of thermal coal in October, nearly 4% higher on the year, amid a sharp rise in deliveries from Russia, Canada and Colombia, customs data showed.

Indonesia and Australia remained South Korea’s two main suppliers, accounting for 25% and 30% of total imports.

While deliveries from the former grew 4.5% on the year, to 2.6m tonnes, imports from the latter fell 5% to 3.1m tonnes.

But the decline from Australia was offset by a 34% rise in shipments from Russia, which totalled 2.3m tonnes, and from Canada, which doubled on the year to 2.1m tonnes.

And Colombian supplies more than quadrupled to 417,000t.

Imports from South Africa and the US declined by 89% and 65%, respectively, to 117,000t and 196,600t.

Fluctuations in Colombian, US and Russian exports to Asia-Pacific destinations can have an impact on European prices, due to the resulting increase or reduction in regional supply.
Source: Montel

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