Shipments of Russian metallurgical coal to China rose nearly 49% in April from a month earlier, according to the commodity analytics firm Kpler
MOSCOW (Pakistan Point News / Sputnik - 12th May, 2022) Shipments of Russian metallurgical coal to China rose nearly 49% in April from a month earlier, according to the commodity analytics firm Kpler.
Cargo-tracking data shows that China imported 1.37 million tonnes of Russian coking coal last month, up from 922,000 tonnes in March and 750,000 tonnes in April last year, the Brussels-based company said.
Russia has been diverting coal shipments eastward as European markets continue to close over the fighting in neighboring Ukraine.
Ilya Makarov, the corporate ratings director at Moscow-based rating agency ACRA, warned that the Asian shift was straining Russia's rail freight capabilities and risked pushing down coal prices in the Asian market.
