Australia's coking coal bulk export shipments rose 2.5% m-o-m to 13.28 million tonnes (mn t) in Nov'21, as against 12.96 mn t in Oct'21.
However, the export volumes have remained fairly stable on a y-o-y basis, compared with 13.24 mn t in Nov'20.
Similarly, the country's cumulative exports over Jan-Nov'21 totalled 152 mn t ? almost flat compared to the volumes seen in the corresponding period last year.
India has retained its position as the largest coking coal importer from Australia, accounting for almost 33% share with imports of over 50 mn t in Jan-Nov'21.
Nevertheless, Indian shipments from Australia dropped 18.6% m-o-m to 4.18 mn t in Nov'21, as against 5.14 mn t in Nov'20.
India's domestic steel production had risen back to optimum levels with large-scale integrated steelmakers having ramped up capacity utilisation at all major blast furnaces.
Furthermore, Indian finished steel prices remained relatively stable, and steel mills' profit margins were satisfactory - both of which encouraged higher steel production and thereby necessitated restocking demand for coking coal.
Japan - and other key steel producing nations such as South Korea, Vietnam and Taiwan - have surpassed China as the largest importers of Australian coking coal this year.
As of last year, however, China and Japan together accounted for around 40% of Australia's total coking coal exports.
Ironically, demand for coking coal from Australia's main export market, China, has been in a state of permanent decline as the country is rapidly transitioning to cleaner energy sourcing technologies.
Certain other factors, mainly governmental initiatives undertaken as longstanding efforts toward increasing self-reliance on domestically produced coal supplies, are also paving the way for diminished import demand from China.
Japanese coking coal imports from Australia saw an increase of 12.65% m-o-m to 2.9 mn t in Nov'21. Australian coking coal imports by South Korea also witnessed an upsurge, by as much as 62% to 1.9 mn t in Nov'21. Shipments to the Netherlands witnessed a six-month high as quantities traded rose by 75% m-o-m.
Australia's Gladstone Port was the biggest coking coal exporting port in the year so far, accounting for over 30% share with exports of almost 46 mn t.
Coking coal exports from this port, however, decreased by 5.1% m-o-m to 4.10 mn t in Nov'21, against 4.32 mn t in Oct'21.
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