According to statistics from General Department of Customs, in May 2024, Vietnam's coal imports of all kinds reached nearly 6.5 million tonnes, equivalent to 768 million USD, an increase of 10.2% in volume and 2.2% in value compared to the previous month.
In the first 5 months of this year, coal imports of all kinds reached more than 27 million tonnes, worth more than 3.46 billion USD, a sharp increase of 60% in volume and 29.2% in value over the same period in 2023. Average import price in the first 5 months reached 128 USD/tonne, down more than 19% over the same period in 2023.
Vietnam is importing the most coal from many markets such as Indonesia, Laos, Australia, etc. Of which, China is the import market with the largest growth in the first 4 months of the year.
Specifically, coal imports of all kinds from China reached 101,744 tonnes with a turnover of more than 28.6 million USD, an increase of 761% in volume and 618% in turnover compared to May 2023.
In the first 5 months, import of this item from the country of one billion people reached more than 267,600 tonnes with a turnover of more than 78.83 million USD, an increase of 147% in volume and 146% in value compared to the same period in 2023.
The average import price in the 5 months reached 294.5 USD/tonne, a slight decrease of 0.3% compared to the same period in 2023. Vietnam imports coal from China at the highest price compared to other markets
According to data from Vietnam Electricity Group, coal use has increased dramatically in the first 5 months of 2024, with coal-fired thermal power plants accounting for an average of 59% of electricity output, sometimes exceeding 70%.
That’s up from nearly 45% in the same period last year and 41% in 2021, as Vietnam begins drafting a coal-cutting plan and convinces international donors to commit $15.5 billion to help phase out the fuel.
With a new coal-fired power plant coming online in 2023, coal accounted for 33% of total installed capacity last year, up from 30.8% in 2020, further pushing Vietnam away from its target of reducing it to 20% by 2030.
Electricity demand is expected to continue to rise, according to EVN. The forecast for total system output in June was 28.1 billion kWh, up 13.8% year-on-year. The maximum capacity of the entire system could reach more than 52,000 MW, with the North alone reaching about 26,000 MW. Thus, problem of coal use in electricity production will continue to increase.
As for China, the country's growing coal imports this year are challenging earlier expectations that Beijing would not stop buying coal in 2024.
In March, an executive at China's state-owned Guangdong Energy Group said the country's coal imports this year are expected to hit a record high compared to 2023. Data last month showed China's seaborne coal imports rose 17% in the first quarter.

Source: Vitic/ congthuong.vn