Turkey’s thermal coal imports in May slightly increased by 2% month over month after falling in March and April, according to the Turkish Statistical Institute. Buyers continued to purchase coal due to low prices, market sources said.
Platts assessed CIF Med 75,000 mt 6,000 /kg NAR, non-Russian origin, coal prices at an average of $/mt in May, down from the average of $92/mt in April.
The TUIK data published July 8 showed that, cumulatively, Turkey imported 2.7 million mt of coal from Russia and Kazakhstan in May, down 14% on the year.
Russia, the leading supplier of thermal coal to Turkey, showed a drastic rise in its exports month over month after decreasing from February to April, as most cement producers actively purchased thermal coal due to cheaper prices, according to market participants.
The data further showed that Turkey imported 2.5 million mt of Russian thermal coal in May, up 46% from the previous month and 72% from May 2024. In April, Russia exported 1.7 million mt of thermal coal to Turkey.
Platts, part of S&P Global Commodity Insights, assessed CIF Med 45,000 mt 6,000 /kg NAR, Russian origin only, coal at an average of $/mt in May, slightly down from April’s average of $/mt.
The drop in prices for Russian coal delivered to Turkey, along with sufficient cargo availability, prompted cement producers in Turkey to prefer thermal coal over petcoke, according to market participants.
Recently, a UAE-based trader mentioned, “Temperatures are picking up, and it seems there is a recovery in cement demand, so it is the right time to look for thermal coal.”
“Also, Hydro generation is lower, so it will encourage more import demand,” the trader added.
Platts, part of S&P Global Commodity Insights, assessed the weekly CIF Turkey 5.5% sulfur petcoke price at an average of $94/mt in May.
Kazakhstan thermal coal imports to Turkey fell by 16% month over month at 140,848 mt in May, and down 46% year over year, the TUIK data showed.
Despite imports from South Africa and Colombia earlier this year, Turkey did not import any cargoes from either region in May.
Source: Platts
