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Mongolian Jan-Oct coal exports up 26.6% YoY www.sxcoal.com
Mongolia's coal exports totaled 65.88 million tonnes over January-October 2024, increasing 26.60% from the year-ago level, according to the latest data from the Mongolian Customs General Administration (MCGA).
The export value amounted to $7.31 billion during the given period, rising 3.67% on the year, data showed.
MCGA didn't release the specific figure for September. Sxcoal calculated the exports at 6.74 million tonnes based on the overall exports published by the customs authority, up 29.69% year on year and 24.14% on the month.
The value of coal exports stood at $654 million last month, up 3.71% on the year and 24.01% on the month. The average price was calculated at $96.93/t, down $24.28/t year on year and $0.10/t month on month. The majority of Mongolian coal exported was coking coal used for steel production.
All the Mongolian coal was exported to China during the first ten months of this year. Data showed coal exports to China in October increased by 29.69% on the year and 24.14% on the month.
Mongolian coal exports to China remained at a relatively low level in October, partly due to the closure of China-Mongolia border crossings for seven days during the National Day holiday. Nevertheless, following continuous destocking at supervision warehouses, customs clearance activities saw modest improvements in October from the previous month.
The fourth supervision warehouse at Mandula border port officially commenced operations on October 29, marking a significant leap in enhancing the port's storage capacity. The port's static capacity will increase by 0.3 million tonnes per annum (Mtpa) and the overall storage capacity will rise to 3 Mtpa. This growth will contribute to the port's goal of meeting a throughput capacity of 10 Mtpa.
The warehouse can handle 4 million tonnes of imported and exported goods per year, with the capability to regulate the import of coal, iron ore and copper concentrate.
Mongolia has set coal export target of 60 million tonnes in 2024. The country's coal exports had already exceeded this figure. An official of the finance ministry expected Mongolia's coal exports to reach about 75 million tonnes by the end of 2024. Based on the average monthly exports so far this year, this goal is not out of the question.
In 2025, the Mongolian Parliament submitted a budget plan projecting a full-year export of 83.30 million tonnes.
Looking ahead, diminishing macroeconomic positives, waned steel demand during the traditional lull, in addition to stricter environmental inspections during the winter, may dampen molten iron output and erode downstream buying appetite. This, coupled with high Mongolian coal inflows, may further intensify inventory pressure at the border crossings, potentially pressuring future imports.
Over January-October, Mongolia exported 62.81 million tonnes of bituminous coal, up 22.21% on the year. Anthracite exports declined 9.24% year on year to 138,200 tonnes, while that of other coal surged 495.27% from a year ago to 2.93 million tonnes.
In October, Mongolia's bituminous coal exports were calculated at 6.19 million tonnes, up 21.59% from the previous year and 24.75% from a month earlier; exports of anthracite were 14,400 tonnes, falling 24.26% on the year and 35.79% from September; other coal exports reached 542,700 tonnes, jumping nearly 5-folds from the year-ago level and rising 20.43% from the month before.
Published Date:2024-11-11
