South Korea Q1 thermal coal imports set for 10-year low on anti-pollution measures
2020-03-27 08:32:25 [Print]
South Korea's first-quarter thermal coal imports are set to fall to a decade-low due to stricter air pollution measures, while the coronavirus outbreak has reduced the country's demand for electricity.
South Korea, the world's No.4 coal importer, is expected to import around 19.85 million tons of thermal coal for the first three months, down 19.2% year-on-year, according to calculations based on customs data and ship tracking data.
That would be the country's lowest first-quarter imports since 2010 when it imported 19.55 million tons. Demand is normally high during the quarter, which covers the winter months, running at 24-26 million tons over the past three years.
The drop in imports comes after South Korea imposed tougher restrictions on coal-fired power from December through March, halting nearly half of the country's 60 coal power plants by March as part of efforts to improve air quality.
Meanwhile, analysts said the coronavirus outbreak had reduced demand for electricity as business and factory activity slows. South Korea has faced the region's biggest COVID-19 epidemic outside of China, with over 9,000 cases.
South Korea, the world's No.4 coal importer, is expected to import around 19.85 million tons of thermal coal for the first three months, down 19.2% year-on-year, according to calculations based on customs data and ship tracking data.
That would be the country's lowest first-quarter imports since 2010 when it imported 19.55 million tons. Demand is normally high during the quarter, which covers the winter months, running at 24-26 million tons over the past three years.
The drop in imports comes after South Korea imposed tougher restrictions on coal-fired power from December through March, halting nearly half of the country's 60 coal power plants by March as part of efforts to improve air quality.
Meanwhile, analysts said the coronavirus outbreak had reduced demand for electricity as business and factory activity slows. South Korea has faced the region's biggest COVID-19 epidemic outside of China, with over 9,000 cases.
