Coal stocks have been on fire this year, and Chinese imports are continuing to surge.
Yet as other Asian nations experience local demand growth as well, it only means that coal needs to be sourced from further and further afield.
China’s coal imports rose 11.5 per cent in October from a year earlier, while declining exports from Vietnam amid growing domestic demand is forcing China to seek more supplies from further afield, customs data showed on Monday.
Coal exports from Vietnam, which have been declining steadily due to rising domestic demand, posted a sharp drop of 54.4 per cent to 930,818 tonnes — its lowest since the start of the year. Total imports from the southeast Asian nation during the first 10 months of the year have already dropped some 24 per cent from a year ago.
To help fill the gap, supplies from the United States, Colombia and South Africa have soared by several thousand per cent from a year ago.
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