Russia: Kuzbass coal output slips 8% y-o-y in Jan-Sep'24

• Coal output in Sep'24 down for 6th straight month
  
  
• South Korea, China, Japan scale back coal imports
  
  

Mysteel Global: Russia's Kuzbass Basin in southwestern Siberia, the country's largest coal mining region, produced about 147.3 million tonnes (mnt) of coal during January-September 2024, down 8.1% from the same period last year, according to the latest data from the Ministry of Coal Industry of Kuzbass.

Within the total, the region's coking coal production dropped by 5.2% y-o-y to reach 47.3 mnt, while thermal coal output dipped by 9.3% y-o-y to 100 mnt, the data showed.

In September alone, Kuzbass coal production slipped for the sixth straight month to a record low of 14 mnt, down by 6.7% m-o-m and 20% y-o-y, Mysteel Global calculated, based on the official data.

Russian coal companies have been grappling with deep losses, forcing many of them to cut production to avoid further financial damage. Russian coal has been losing favour with more Asian buyers, as coal from other countries has had more cost competitiveness in global markets, Mysteel Global learnt.

For example, during September, South Korea's imports of Russian coal - mostly thermal coal - plunged by 34% y-o-y to 1.268 mnt, Korean Customs statistics show, while during August, as per the latest Japanese finance ministry data, Japan's imports of Russian coal (entirely steam coal) slumped by 23% y-o-y to just 175,800 tonnes (t).

China, Russia's biggest coal buyer, scaled back its coal imports from the country in September, with the import volume dropping by 10% y-o-y and 4% m-o-m to around 8.33 mnt, fresh data from China's General Administration of Customs (GACC) showed.

Chinese buyers seemed to have shifted their favour last month and showed a preference for coal from the United States and Australia, the GACC numbers show.