South Korea's coal imports fell both year on year and month on month in September 2026, extending the previous month's decline as procurement continued to slow.

The country imported 10.67 million tonnes of coal in September 2026, down 4.9% from 11.22 million tonnes a year earlier and 8.62% from 11.68 million tonnes in the previous month, according to the latest customs data.

The pullback was driven mainly by weaker seasonal power demand as summer cooling loads faded. With temperatures falling, air-conditioning demand dropped sharply and coal burn at power plants contracted in tandem, pulling utilities out of the summer restocking phase in a routine seasonal downturn. Lower overall electricity load reduced operating hours at coal-fired units, directly weighing on thermal coal procurement.

Power data confirmed the demand-side shift. Operating power capacity in South Korea stood at 103.1 GW in September 2026, edging down 0.48% from the previous month but up 2.18% year on year, according to Korea Power Exchange statistics. Peak power demand was 85.9 GW, down 9.86% month on month and 4.02% year on year. Coal-fired capacity was 40.8 GW, flat from the previous month, while combined solar, wind and hydropower capacity was also unchanged.

Meanwhile, concentrated restocking by Korea Electric Power Corp (KEPCO) in July had lifted imports and fully replenished utility inventories, leaving August and September in a sustained drawdown phase. Utilities prioritized consuming earlier cargoes and cut new bookings and deliveries, producing two consecutive months of month-on-month declines. Australia and Russia remained the top two suppliers, but shipments from both contracted in tandem — a result of voluntary procurement cuts by utilities rather than constrained external supply.

Higher nuclear and renewable output in September further eroded coal's share of generation. Fewer nuclear units were offline for maintenance, wind and solar output rose with better weather, and stable LNG supply added to the mix of alternative sources displacing coal-fired generation, curbing rigid demand for coal imports.

In value terms, South Korea's coal imports were worth $1.48 billion in September 2026, up 24.92% year on year but down 8.44% month on month. The implied average import price was $138.36/t, up 31.37% from a year earlier and 0.2% higher than the previous month.

For January-September 2026, cumulative coal imports reached 91.79 million tonnes, up 12.69% year on year. Cumulative import value was $11.82 billion, up 27.63%. The implied average price over the nine months was $128.79/t, up 13.26% year on year.

By coal type, thermal coal (other bituminous coal and other coal) imports were 7.63 million tonnes in September 2026, down 4.58% year on year and 9.66% month on month, accounting for 71.48% of total imports, down from 72.3% in the previous month. Coking coal (other coking coal and hard coking coal) imports were 2.31 million tonnes, down 6.63% year on year and 0.77% month on month, accounting for 21.6% of the total.

PCI coal imports were 545,900 tonnes in September, down 17.76% year on year and 25.59% month on month, accounting for 5.11%. Anthracite imports were 192,800 tonnes, more than doubling year on year and up 7.79% month on month.

By origin, Australia, Russia, Indonesia, Canada and South Africa were the top five suppliers in September 2026, together accounting for 88.25% of total imports, up from 86.32% in the previous month.

Australia remained the largest supplier at 3.29 million tonnes, down 11.03% year on year and 17.91% month on month, accounting for 30.86% of the total, down from 34.35% in the previous month.

Russia supplied 2.13 million tonnes, down 26.81% year on year and 24.91% month on month, accounting for 19.98%, down from 24.31%.

Indonesia supplied 1.83 million tonnes, down 41.13% year on year but up 28.29% month on month, accounting for 17.17%. Canada supplied 1.14 million tonnes, up 92.31% year on year and 27.43% month on month. South Africa supplied 1.02 million tonnes, up 521.09% year on year and 36.43% month on month.

Downstream, South Korea imported 12,700 tonnes of coke in September 2026, down 81.08% year on year but up 109.39% month on month. Import value was $4.13 million, down 59.82% year on year but doubling from the previous month. The implied average coke import price was $325.82/t, up 112.4% year on year but down 4.11% month on month.

For January-September, cumulative coke imports reached 498,100 tonnes, up 100.83% year on year, with cumulative value of $86.76 million, up 64.19%.