China's coal imports in March totaled 38.73 million metric tons,a 6%decrease from 41.38 million tons in March 2024,according to the General Administration of Customs.This marked the first year-on-year monthly decline since March 2022,excluding the January-February period,which is influenced by the Lunar New Year.The drop was attributed to ample coal stockpiles at ports and softer domestic demand,contributing to lower spot prices.
On April 11,the domestic price for medium-grade coal,with a heat value of 5,500 kilocalories per kilogram,stood at 676 yuan($92.70)per metric ton,as reported by the Bohai-Rim Bay thermal coal price index.This was the lowest level since March 2021,reflecting subdued market conditions.
Power plants in China have increasingly turned to domestic coal supplies.In key supplier Indonesia,miners face rising operational costs and an upcoming increase in royalties,which have limited their ability to adjust prices in line with China's market trends.As a result,Chinese utilities have favored local sources to meet energy needs.
For the first two months of 2025,coal imports reached a record 76.12 million metric tons,up 2%from the same period in 2024.China combines January and February data to account for Lunar New Year fluctuations.However,the March decline was anticipated,with expectations of further reductions in the coming months due to high port inventories and narrower profit margins for imports.
Over the first quarter of 2025,coal imports totaled 114.85 million metric tons,a slight 0.9%decrease from 115.89 million tons in the same period of 2024.The data reflects a cautious approach by importers amid sufficient domestic supply and lower prices.
The shift toward domestic coal aligns with efforts to optimize energy resources.Power plants and traders continue to monitor global and local market dynamics,balancing import volumes with stock levels to ensure stable supply chains.The General Administration of Customs data underscores China's adaptability in managing coal demand amidst changing economic conditions.
