BEIJING: China’s coal imports rose 14.4% in 2024 to a record high, official data showed on Monday, as lower international coal prices spurred buyers to substitute imports for domestic supply.
Coal imports for the year totalled 542.7 million metric tons, according to China’s General Administration of Customs, up from 474.42 million tons in 2023.
“The increase in China’s coal imports in 2024 was supported by declines in seaborne coal prices which encouraged import arbitrage in relation to China’s domestic supply for a wider range of coal types,” said Toby Hassall, lead coal analyst for LSEG, adding that growth in domestic coal output, at around 1%, had slowed compared to previous years.
Imports for the month of December rose 11% to 52.35 million tons compared with a year earlier, the data showed, down from November’s record high of 54.98 million tons.
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For 2025, industry group the China Coal Transportation and Distribution Association expects imports to fall to 525 million tons, its analysts said in an online seminar last week.
Hassall estimated that China’s coal consumption grew around 1% in 2024, in line with growth in coal-fired power generation despite more subdued consumption in the cement and steel sectors, which have been hit by China’s real estate crisis.
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