It’s shaping up to be a year of plenty for coal in China, the world’s biggest producer and consumer.
The country’s domestic output is running almost 5% ahead of last year’s record. Imports have risen a whopping 90%, and shipments are flooding in from as far afield as South Africa and Colombia. Indonesia remains the top provider, followed by Russia, eager to sell more of any fossil fuel eastward.
In the face of geopolitical tensions and extreme weather, the government isn’t taking chances with supply. Coal’s so abundant right now that it’s weighing on prices, with thermal coal traded at Qinhuangdao port last week dropping to its lowest since April 2021.
