China is buying a huge amount of Russian coal which is much cheap, even there are sanctions by the Western nations over the attack on Ukraine by Russia.
China has the second largest economy in the world, In april China has bought more coal from Russia than it has bought ever again in its history.
Between March and April China’s coal imports has been doubled, This import has reached to 4.42 million metric tons according t trade data Refinitiv.
Before this, Australia was the greatest supplier to China. But now Russia has overtaken Austalia in coal supply to China. It accounts approximately 19% of its coal imports since last year and 14% share just in this March.
China has been the world largest buyer of coal for many year. China promised to become carbon neutral by 2060 but there has been seen sever power shortages which has affected millions of domestic and industrial businesses late last year. This has increased the consumption of coal. Now the results are clear to everyone.
According to an estimate China has imported approximately 1.09 million metric tons of seaborne coking coal from Russia. This coking coal is used to make steel for many basic productions in other industries. This report is by Matthew Boyle, who is an analyst at data firm Kpler.