Russia’s coal exports revenue from China grew 2.7 times in six months

Almaty. August 14. Silkroadnews – Russia’s revenues from coal exports to China grew 2.7 times in six months, Russian news agency Eurasia Daily reported.
Russia’s export of hard coal to China for H1 2017 made 13.14 million tonnes with a total cost of $1.17 billion, according to China’s National Development and Reform Commission. Tonnage of exports increased 53.8%, with export earnings grown 2.7 times, the report said.
Russia is ranked the third among China’s coal suppliers, after Australia delivering 38.47 million tonnes of coal (+23.8%) in January-June and Indonesia – 17.86 million tonnes (+16.9%).
A sharp rise in coal exports to China is referred to the state authorities’ medium-term plans on coal domestic production reduction by 800 million tonnes in 2016-2020. Last year, coal production in China was reduced by 290 million tonnes, and in the first six months of 2017 the reduction made 111 million tonnes (74% of the year’s plan).
An additional free niche was formed due to China’s suspension of coal imports from the DPRK beginning on February 19, pursuant to UN Security Council Resolution 2321 on nuclear tests by North Korea.
It is reported that in H1 2017 coal supplies from the DPRK to China fell 74.5% to 2.68 million tonnes.