In the coal yards of northern ports, the pace of operations for ocean going cargo ships to dock and unload coal is quietly changing. The latest data released by the General Administration of Customs on September 8 shows that in August 2026, China imported 42.092 million tons of coal, a slight decrease of 1.5% year-on-year, ending the previous months of high import growth. Combined with the dynamic adjustment of the domestic production supply side, the supply-demand balance logic of the coal market is entering a new operational stage.

The monthly import volume has slightly decreased

In August, China imported 42.092 million tons of coal, a decrease of 1.5% compared to July's 42.728 million tons and a year-on-year decrease of 1.5% compared to the same period last year's 42.737 million tons. From January to August, the cumulative import of coal in China reached 310.188 million tons, maintaining a positive growth rate of 3.4% year-on-year. Previously, coal imports in July increased by over 20% year-on-year, with Indonesia, Russia, Mongolia, and Australia accounting for over 96% of the total imports. The slight decline in monthly data does not change the overall supplementary supply attribute of imported coal since the beginning of this year.

Continuous reconstruction of market pricing logic

The current domestic price of thermal coal has increased by nearly 30% compared to the beginning of the year, and the cost advantage of imported coal has dynamically adjusted with the fluctuation of domestic coal prices, no longer being a frictionless low price supply pool. Downstream coastal power plants and industrial users are no longer solely relying on imported coal to lower procurement costs. Instead, they are synchronously coordinating the ratio of domestic long-term contract coal and imported spot coal, optimizing procurement costs while ensuring supply security. The pricing logic of the domestic coal market is shifting from loose total volume to effective supply matching. Keywords: coal export, coal market

Behind the slight changes in monthly imported coal data from the coal unloading docks of ocean going cargo ships to the coal bunkers of inland power plants, there is a more resilient supply-demand balance system being formed in the Chinese coal market, which also lays a more stable operational foundation for ensuring energy supply during the peak winter season.Editor/Cheng Liting