TURKEY DATA: Thermal coal imports drop 12% MOM in March

Turkey's thermal coal imports in March dropped month over month after rising in February, according to the Turkish Statistical Institute. Buyers continued to purchase coal due to low prices, market sources said.

The TUIK data published May 1 showed that, cumulatively, Turkey imported 2.9 million mt of coal from Russia, Colombia, Kazakhstan and South Africa in March.

Turkey's March thermal coal import volumes have increased 15% year over year, the data showed.

Russia, the leading supplier of thermal coal to Turkey, continued to show a slight fall in its exports to Turkey month over month, as most of the buyers remained on the sidelines with ample stocks, according to market participants.

The data further showed that Turkey imported 2.5 million mt of Russian thermal coal in March, down 3% from the previous month but up 26% from the previous year. In February, Russia exported 2.6 million mt of thermal coal to Turkey.

Platts, part of S&P Global Commodity Insights, assessed CIF Med 45,000 mt 6,000 kcal/kg NAR, Russian origin only, coal at an average of $86.12/mt in March, down from February's average of $90.50/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.

South African thermal coal imports to Turkey fell drastically month over month at 20,558 mt in March, and down 66% year over year, the TUIK data showed.

Colombia's thermal coal exports to Turkey sharply decreased month over month, falling 51% to 242,606 mt, and down 64% year over year, the data showed.

Platts assessed CIF Med 75,000 mt 6,000 kcal/kg NAR, non-Russian origin, coal prices at an average of $95.37/mt in March, down from the average of $96.50/mt in February.

Turkey also imported Kazakhstan thermal coal with total imports of 85,168 mt in March, up 4% month over month and down 46% year over year.