China imported a record-breaking 542.7 million tons of coal in 2024, according to the latest data from the General Administration of Customs. This represents a 14.4% year-on-year increase and far exceeds earlier industry forecasts of 500 million tons. December alone accounted for 52.3 million tons, up 10.68% compared to the same period in 2023, although down 4.79% from November’s historic peak.
Source: Coal Resource Network
China imported a record-breaking 542.7 million tons of coal in 2024, according to the latest data from the General Administration of Customs. This represents a 14.4% year-on-year increase and far exceeds earlier industry forecasts of 500 million tons. December alone accounted for 52.3 million tons, up 10.68% compared to the same period in 2023, although down 4.79% from November’s historic peak.
As a critical supplement to China’s domestic coal supply, imported coal has been instrumental in meeting regional energy demands, particularly in coastal areas. It has also helped to lower operational costs for industries such as power generation, steel production, and construction materials. The past two years have seen imports repeatedly hitting new highs, underscoring coal’s continuing importance in the energy mix.
Looking ahead, China’s coal imports in 2025 are expected to remain significant, influenced by both domestic and international factors. On the domestic front, recovering economic activity and increased industrial production are likely to drive energy demand. Simultaneously, ongoing transformation within China’s coal industry and tighter environmental regulations may affect import dynamics. Internationally, coal price fluctuations and global supply trends will also play a pivotal role.
Industry analysts are divided on the exact import volumes for 2025, but most anticipate totals exceeding 500 million tons. The global seaborne coal market is projected to remain well-supplied, with major exporters such as Indonesia, Australia, Russia, and Mongolia expected to increase output. Furthermore, the expanding use of renewable energy could reduce coal-fired power consumption globally, leaving more coal available for export.
Domestically, coal remains the backbone of China’s energy system, but it is a finite resource. Strategic priorities, including energy security and reserves, suggest that government policies around coal imports are unlikely to see drastic shifts. The ongoing transformation of China’s coal sector is another key factor. Imported coal serves as a valuable buffer, ensuring supply stability while giving domestic producers time to modernize and meet environmental targets.
In 2025, the domestic market is expected to remain oversupplied, potentially leading to further price reductions. Lower prices for imported coal could bolster its competitiveness, particularly in coastal regions where demand remains strong. Long-term supply agreements are also becoming more common, helping to stabilize procurement processes and ensure steady imports. While imported coal will continue to act as a key balancing tool for domestic supply and demand, actual volumes will depend heavily on downstream consumption. Exchange rate fluctuations and other external factors could further influence procurement decisions.
In summary, while uncertainties persist, China’s coal imports in 2025 are likely to stay elevated, driven by robust international supply, favorable pricing, and sustained domestic demand in critical regions.