TECK - China Defies Decarbonization Trend As Coal Imports Climb 16.9% In Q1 2024 | Benzinga
Despite global efforts towards decarbonization, coal imports in China are on the rise, signaling persistent demand for the commodity. The surge in imports contradicts previous forecasts of a decline, demonstrating China’s continued reliance on coal for various industrial processes and electricity generation regardless of its strong push into green energy exports.
According to data compiled by Kpler, per Reuter's report, China imported 97.43 million metric tons of coal from the seaborne market during the first quarter of 2024, marking a significant increase of 16.9% compared to the same period in 2023.
One of the contributing factors to China’s increased coal demand is the steady growth in electricity generation, outpacing economic growth.
The shift towards electrification in industrial processes and rising consumer demand for appliances like air conditioners are driving up electricity consumption. ...