February 3, 2023

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North Asia cranks coal imports to fuel industrial reboot: Maguire

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LITTLETON — Thermal coal imports into China, Japan and South Korea – three of the world’s largest coal users – hit their highest combined total in 16 months in December as the North Asian manufacturing powerhouses primed their economies for growth in 2023.

Economic momentum in these countries – which collectively accounted for nearly half of all thermal coal imports in 2021 – was subdued in 2022 as China’s strict zero-COVID measures stifled industrial activity across the world’s largest manufacturing base.

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Japan and South Korea have extensive supply chain ties with China which meant that each country suffered slowdowns in both productivity and demand growth in 2022 as China’s COVID-19 curbs stifled movement of goods and people over much of the year.

But thanks to a slew of stimulus and easing measures passed by Beijing that are designed to kickstart a revival in China’s economy this year, factories and industries throughout North Asia are now also primed for a pick up.

GEARING UP

To feed that anticipated sustained rise in output and consumption, each country…

Reuters

2023-01-24 19:07:23

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