Australia's non-coking coal exports rise m-o-m in Oct'24 on improved Chinese buying

• China's imports increase 15% m-o-m
  
  
• Newcastle shipments rise over 10%
  
  

Australia's non-coking coal shipments grew 6% month-on-month (m-o-m) to 17.56 million tonnes (mnt) in October 2024, up from 16.57 mnt in September. This figure, however, is a 2.7% decrease year-on-year (y-o-y) compared to 18.05 mnt in October 2023. Cumulatively, January-October 2024 exports reached 165.84 mnt, marking a 1.8% increase from 162.85 mnt during the same period in 2023.

Mixed demand from Asian markets

Australia's non-coking coal exports to key Asian markets reflected varied demand trajectories. Shipments to China rose 15% m-o-m to 6.46 mnt, while exports to Japan remained stable at 5.97 mnt. Taiwan saw a 13% increase to 1.56 mnt, while South Korea saw a slight dip to 1.19 mnt.

In Southeast Asia, Malaysia's imports increased by 25.4% to 0.69 mnt, and Vietnam recorded a 20% increase to 0.65 mnt. Meanwhile, Thailand's imports held steady at 0.28 mnt, indicating stable demand.

Port-wise export shifts

In October, Newcastle port saw a 10.1% m-o-m increase in shipments, totaling 12.87 mnt. Abbot Point's exports declined by 29.5% to 1.36 mnt, and Dalrymple Bay Coal Terminal (DBCT) exports also saw a decrease, down to 1.08 mnt. Gladstone's exports remained stable at 1.33 mnt, while Brisbane saw a significant rise, with exports more than doubling to 0.45 mnt, reflecting changing export dynamics.