All major buyers, including China, India and Turkey, have reduced purchases of Russian coal.
Russia’s problems in key markets for Russian coal that began at the beginning of this year could not but affect production.
How report “Vedomosti” with reference to Rosstat data, in February of this year, coal production in the Russian Federation decreased by 1.8% compared to January of this year and by 0.7% compared to February 2023, amounting to 34.6 million tons.
This trend is observed against the backdrop of a reduction in purchases of Russian coal by all major importers, including China, India and Turkey. In general, Russian coal exports in January of this year fell by 8% compared to January of the previous year..
Experts interviewed by RosSMI cite increased coal production in India and a decrease in shipments through the OTEKO terminal in Taman as the reason for the drop in exports.
It should be noted that Russian coal has not been supplied to the markets of the European Union and Great Britain since August 2022, when an embargo was imposed on it as part of sanctions against Russia for a full-scale invasion of Ukraine. Since then, Russian coal mining companies have tried to redirect their exports to Asian markets.
Let us recall that from the beginning of this year, China began to protect its market from Russian coal by returning duties that were canceled in May 2022 due to the risks of destabilization in energy markets due to the Russian war against Ukraine. In addition, Chinese importers are afraid to interact with sanctioned Russian companies, as this threatens to fall under secondary sanctions. In this regard, in January-February this year, Russian coal exports to China collapsed at 22%.
Earlier it was reported that the Russian company AEON had problems Problems with the removal of coal from deposits in Taimyr: it does not have enough bulk carriers to transport goods by sea.
Author: Artem Malinovsky
2024-03-28 17:11:29
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