During March-May 2024, India reduced its coal imports from Russia by 22.4% to 6.76 million tonnes. Exports of thermal coal, which is mainly used for power generation in India, decreased by 67 %. At the same time, supplies of coke used in India's metallurgical industry increased by 44 %.
Indian importers explain the decline in thermal coal purchases by high prices and lack of discounts, as well as the impact of anti-Russian sanctions.
Despite the decline in exports to India, Russia is increasing coal supplies to China. In May, the volume of lignite coal shipments from Russia to China exceeded $53 million, the highest since September 2022.
It should be recalled that Russia's share of the global coal market rose steadily from 10.5 % to 17.1 % between 2013-2021, before falling to 14.6 % in 2024 and continuing to decline.
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