Mongolia's 2027 Coal Exports to China Will Be About Volume, Not Price
Jadambyn Enkhbayar, the first deputy prime minister, said exports reached USD 16.6bn in the first nine months of 2026, up 54 percent on last year, with coal ports overfulfilling their plans and the Khangi border port at 140 percent. In the first nine months Mongolia shipped 82.3 million tonnes of coal for USD 5.9bn.
The trajectory points to roughly 110 million tonnes for the full year. Forecasts point to 120 million tonnes in 2027, with Mysteel projecting 82 to 95 million tonnes of steel-making coal imports from Mongolia to China alone.
The coal market share is already moving. Mongolia supplies more than half of China’s steel-making coal imports, and its share of all Chinese coal imports rose nearly ten points to 26.5 percent in the first half of 2026 while Russia’s fell four points. Russian producers now export at zero or negative margins. Chinese domestic steel-making coal faces structural constraints from safety restrictions in Shanxi.
Want to read more?
Subscribe to mongoliaweekly.org to keep reading this exclusive post.
