South Korea imported a total of 86.97 million tonnes of thermal coal (bituminous and sub-bituminous coals) in 2020, falling 15.58% from 2019 level, according to South Korean customs authority.
The decline in thermal imports was mainly due to the country's falling thermal power generation. In 2020, South Korea's thermal electricity consumption fell to a six-year low of 197 TWh, which was ascribed to government's limitations on thermal power utilities from December, 2019 till March, 2020 and strong competition from fallen liquefied natural gas prices.
South Korean government said the country will increase the renewable energy usage in the future and reduce coal and nuclear energy consumption. By 2034, coal's share in total enery mix will be lowered to 22.7% from 31.9%.
The country's thermal coal imports totaled 7.72 million tonnes in December, down 20.99% year on year but up 4.69% month on month.
South Korea imported 7.28 million tonnes of bituminous coal in December, falling down 20.67% year on year but rising 7.03% month on month.
South Korea imported the most bituminous coal totaling 3.61 million tonnes from Australia, contracting 6.03% year on year but increasing 23.88% month on month.
Import from Indonesia was 1.47 million tonnes, slumping 35.59% from the year prior and 22.61% month on month.
South Korea took 1.06 million tonnes of bituminous coal from Russia, 42.64% lower than the year-ago level and 19.98% lower than the month-ago level.
The value of bituminous coal import amounted to $403 million in December, up 6.92% from November. The average import price was calculated at $55.3/t, a year-on-year decrease of 19.42% and a monthly rise of 0.1%.
In December, South Korea imported 138,900 tonnes of sub-bituminous coal, tumbling 34.88% year on year and 51.16% month on month.
South Korea took all coal from Indonesia in the month, falling 34.39% year on year and 51.16% month on month.
The value of sub-bituminous coal import reached $6.87 million in December, plunging 49.58% on the month. The average import price was $49.42/t, down 4.46% from a year ago but up 3.24% from the month-ago level.
In 2020, South Korea imported a total 1.83 million tonnes of sub-bituminous coal, marking a year-on-year fall of 1.99%.
(Writing by Rebecca Liu Editing by Tammy Yang)
For any questions, please contact us by firstname.lastname@example.org or +86-351-7219322.