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Australia: Coking coal exports grow 6% y-o-y in CY'24 on higher shipments to China

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Coking

BigMint Bureau

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6 Jan 2025, 18:17 IST

Australia: Coking coal exports grow 6% y-o-y in CY'24 on higher shipments to China

Shipments to China rise 135% y-o-y

Exports to India drop by 11% y-o-y

Australia's coking coal exports totalled 156.31 million tonnes (mnt) in CY'24, marking a 6% increase from 147.08 mnt in CY'23, according to BigMint's data. This comes in the wake of a 135% y-o-y rise in shipments to China.

The growth in Australia's coking coal exports reflects rising global demand for the material despite market fluctuations.

Exports to India dip, volumes to China, Indonesia surge

In CY'24, India continued to be the leading importer of Australian coking coal, with imports totalling 36.06 mnt, reflecting an 11% decline from 40.61 mnt in the previous year. Increased diversification in import sources, such as sourcing material from Russia, resulted in reduced imports from Australia.

Japan ranked as the second-largest importer, securing 33.37 mnt in CY'24. The country recorded an 8% y-o-y increase compared to 30.83 mnt in CY'23. Furthermore, South Korea's imports of Australian coking coal touched 18.57 mnt in CY'24, reflecting a 4% increase from 17.85 mnt in CY'23.

China's imports saw a dramatic rise of 135% to 17.38 mnt in CY'24 from 7.41 mnt in the previous year. Meanwhile, Vietnam experienced a 31% decrease in imports to 8.10 mnt in CY'24, down from 11.75 mnt in CY'23.

Although there have been regional shifts in export partners, the overall stable export volume points to sufficient global demand for high-quality Australian coking coal.

Prices drop by 16% y-o-y

Premium hard coking coal (PHCC) from Australia, CFR India, plunged by 16% to an average of $260/t in CY'24 from $310/t in the previous year.

Outlook

Australia has raised its projected metallurgical coal exports for FY'25 (July 2024-June 2025) by 1.2% to 163 mnt, from 161 mnt estimated in September, data released by the Department of Industry, Science, and Resources on 20 December showed. With the likelihood of weather-related disruptions receding and new supply coming online, exports are expected to rise from 153 mnt in 2024 to 177 mnt in 2026.