China, India and Turkey sharply reduced purchases of russian coal.

The largest importers of Russian coal - China, India and Turkey - sharply reduced its purchases in the first quarter of the year, state-controlled Vedomosti writes, citing statistics from the Ministry of Energy.

Exports to India and Turkey in the first three months fell by half compared to the same period last year and fell to 4.7 million tons and 4.1 million tons, respectively. China reduced purchases by 16%, to 12.9 million tons, and preferred to purchase Indonesian coal due to difficulties in settlements with Putinistan and sanctions. Supplies from the RF to South Korea, Japan and Taiwan also decreased.

At the same time, non-CIS countries are increasing purchases. Shipments to the United Arab Emirates (UAE) increased by 8% to 2.1 million tonnes, while Hong Kong purchased 1% more than a year earlier at 2.5 million tonnes in the first quarter. Supplies have also increased to ruZZia's neighboring states. Belarus purchased 2.2 million tons, increasing supplies by 38 times, Kazakhstan purchased 15% more than a year earlier - 150.000 tons, so-called Abkhazia increased purchases by 1.8 times, to 41.000 tons.

Still total coal exports from ruZZia in the first quarter of 2024 decreased by 12% in annual terms, to 42.9 million tons.

Market participants and analysts interviewed by the publication named low export prices, expensive logistics and a decrease in demand for russian coal in these countries among the main reasons for the decline in export supplies to the largest buyers. Earlier, coal miners have already drawn attention to the high cost of logistics, which, against the backdrop of falling prices, leads to low profitability of sales.

Source

@freerussia_report