September 23, 2017 20:10

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Increase imported coal price from China by 121%

15:44 | 14/09/2017

VCN – Although the average price of imported coal in Vietnam or in other important markets increase significantly, the average imported price from China jump to 3 number which is reached approximately 121% compared to the same period in 2016. 

increase imported coal price from china by 121
The chart of the average import prices of some major markets (unit: USD/ton). Sketch by: T.Binh

According to the latest statistic of General Department of Customs, by the end of August, Vietnam imported nearly 9.374 million tons of coal, with total turnover achieved nearly $US 934 million. Although the output decreases by 2.6% compared to the same period in 2016, the value of a turnover is increased up to 49.4%.

The major import markets of Vietnam’s coal are Indonesia, Australia, Russia, China, Malaysia... In that, 3 markets have imported more than 1 million tons of coal are Indonesia, Australia, and Russia.

In the past 8 months, the volume of imported coal in 3 major markets that are Australia, Russia, and China have fallen sharply while the import volume from Indonesia has increased nearly double over last year and overtook Australia to become the most important importing market of Vietnam. However, Australia is still in the top in term of turnover.

Remarkably, among the major markets, imported coal from China has the highest price, averaging $US 178 / ton, higher than the average rate of the whole country by 78.7%. In particular, this price increased nearly 121% over the same period of 2016, because of the output from this country, although reduced by nearly 640 thousand tons, the value of turnover increased by nearly $US 19 million.

In the context, many coal heat power plants already in operation, in the schedule of electric sector, they also determined to build more coal heat power plants while the source for coal extraction in the country does not meet the demand. Thus the increase in import volume of coal in the future is inevitable.

increase imported coal price from china by 121
Demand for imports coal is still rising sharply in the coming years. Source: The Internet.

In the National Electricity Development Plan 2011-2020 with a vision in 2030 (as amended by Decision 428 / QD-TTg, 18/3/2016), the Government defined the target with coal thermal power including: To maximize exploits domestic coal resources for thermal power plants development, prioritizing the use of domestic coal for thermal power plants in the North.

By the year of 2020, the total capacity is estimated about 26,000 MW, producing about 131 billion kWh electricity, accounting for about 49.3% of electricity production, consuming about 63 million tons of coal; By the year of 2030, the total capacity is estimated about 55,300 MW, producing about 304 billion kWh, accounting for 53.2% of electricity production, consuming about 129 million tons of coal.

Also, due to limited domestic coal production, some thermal power plants need to be built in the power centers of Duyen Hai, Long Phu, Song Hau and Long An… which using imported coal.

By Thái Bình/Thanh Thuy