US coal to China down by 67pc this year
China's coal imports from the US dropped by more than two thirds in the first six months of 2022 compared with the same period a year earlier, as domestic steel demand fell following Covid-19 lockdowns across the country, according to analytics firm Dry Bulk X (DBX).
Chinese manufacturing output and real estate investment fell in the first quarter of 2022, as metropolitan and manufacturing centers like Shanghai and Tangshan were subject to China's "zero-Covid" lockdown policies, cutting demand for commodities like coal and iron ore necessary for steelmaking.
China imported just over 2mn metric tonnes of coal from the US or roughly 11,000 t/d, down by 67pc from more than 6mn t imported in the first half of 2021. Around 800,000t was shipped from the US Gulf, a 71pc reduction from that region compared with the prior year, according to DBX data.
Reductions in China's coal imports come as the Chinese government looks to boost domestic coal production to offset spikes in global energy prices. Higher hydropower output following increased rainfall in south China is also putting downward pressure on Chinese coal demand this year.
US shipments accounted for 2.1pc of overall Chinese seaborne coal imports, down from nearly 4.8pc in the first half of 2021, according to DBX.
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