Canadian green petroleum coke exports rose by 39pc on the year in January-May, following significantly higher shipments to China and two Panamax cargoes supplied to India.
Exports over the first five months totalled 645,700t, up from 464,400t a year before, according to Global Trade Tracker. But there are signs of a slowdown. In May, exports softened to 103,400t compared with 113,200t in the same month last year and the lowest since January. This was also down from this year's monthly high in April, when exports totalled 172,200t.
The higher year-to-date shipments and the slowing trend in May are likely a result of shifts in China's coke demand. Canadian coke is produced in the country's western region, meaning suppliers mainly focus on the Asia-Pacific market. Strong Chinese coke demand in the first few months of this year drew more coke exports from Canada, which has large reserves of high-sulphur coke in stockpiles near its oil sands syncrude production. Shipments to China — the biggest buyer of Canadian coke this year — reached 259,300t, almost quadruple the 66,100t exported in January-May 2022.
Meanwhile exports to Japan — which had been the largest buyer a year earlier — fell by 19pc on the year to 207,400t. In addition, there were no supplies to South Korea this year, while the country took 128,800t in January-May 2022.
Shipments to India reached 154,000t in the first five months, up from none a year earlier. Indian buyers may be looking to Canadian coke following a reduction in shipments from Venezuela, which was a large contributor of coke to India in 2022.
Canada continued small but regular shipments of green coke to the US, amounting to 25,000t in the first five months, up by 73pc on the year.
Canadian green coke imports also rose this year, reaching 609,400t in January-May, up by more than double from 262,000t a year before. Shipments from the US, which remains the key supplier, were at 524,900t against 205,700t in the first five months of 2022.
Canada also received 24,800t in January-May from Brazil and 53,500t from Spain. A year before, Brazil and Spain supplied 9,900t and 45,600t, respectively.
