China has reduced its purchases of Russian coal in 2024, despite record-high imports.

During 2024, China reduced its purchases of Russian coal while increasing imports from other key suppliers, particularly from Australia.

According to writes Reuters agency.

As reported by the agency, China's purchases last year reached a historic high of 547.2 million tons, accounting for a record 41% of global coal trade, according to an LSEG study.

Last year, imports from Indonesia, the leading supplier, rose by 8% to 236.99 million tons, although this was below the overall increase in coal imports, which was 14.4%, Reuters notes.

According to Reuters, Russia remained the second-largest supplier of coal to China but became the only major producer whose supplies to China decreased in 2024. Chinese imports from Russia fell by 7% compared to 2023 levels, totaling 93.86 million tons, due to sanctions, reinstated import duties from China, and export tariffs imposed by Russia throughout the year.

At the same time, Australian exporters emerged as the biggest beneficiaries of the record imports. Shipments from Australia surged by 59% compared to the previous year, reaching 83.24 million tons, surpassing the 2020 level, the last full year before China imposed an unofficial ban on importing Australian coal, the agency reports.

Background. Earlier, Mind reported that the Russian-Chinese project for developing the largest coal deposit in the Trans-Baikal region, the Zashulanskoye coal field, was left without funding due to China's restrictions on cross-border payments with Russia.