China's coal imports from Russia have reached their highest level in eight months.

Russian coal imports to China reached an eight-month high in May, driven by the suspension of export duties by Moscow. According to data from the Chinese customs administration, Russian coal exports to China reached 9.1 million metric tons in May, representing a year-on-year increase of 1.5% and the highest level since September. The China Coal Industry Association anticipates that shipments will continue to increase in the near term due to the export duty suspension in place from May to August. Meanwhile, China's imports from Australia increased by 24% to 6.7 million tonnes. This figure was lower than April's 7.19 million tonnes, which marked the highest level since July 2020. Mongolia experienced a 59% year-on-year increase in coal imports, reaching 7.23 million tonnes, while Indonesia, China's primary coal supplier, shipped 16.97 million tonnes in May, a 7% decrease from the previous year. In summary, China's coal imports increased by 11% compared to May 2020. This was driven by a 3% decline in domestic production between January and May.

https://internasional.kontan.co.id/news/impor-batu-bara-china-dari-rusia-naik-tertinggi-dalam-delapan-bulan-terakhir

The European Union (EU) has seen a 12% decline in electric vehicle (EV) sales.

The European Union recorded a 12% decline in sales of electric vehicles in May 2024 compared to the same period last year. Germany experienced the largest decline, with a 30% decrease. The decline in Germany is attributed to the cessation of subsidies for electric vehicle purchases in December 2023. Consequently, the overall sales of electric vehicles in Germany have decreased by 16% year-to-date. New car sales in Europe as a whole declined by 3% in May 2024. Demand for electric vehicles in Europe has been on a downward trajectory in recent months, following a period of rapid growth. The focus is now shifting towards producing more affordable models. Furthermore, in order to protect domestic automakers, the European Commission will impose duties of up to 38.1% on Chinese-made electric vehicles from July. In response to the new policy, Tesla, the US electric carmaker, will also increase the price of its China-made Model 3.

https://internasional.kontan.co.id/news/penjualan-kendaraan-listrik-di-uni-eropa-menurun-12

E-Commerce Sales in China Decrease

China's mid-year e-commerce sales have experienced a decline for the first time this year, mainly due to consumer caution amidst a weak economy. The gross merchandise value (GMV) of major online platforms during the 618 shopping event reached 742.8 billion yuan, a 7% decrease compared to the same period last year. In 2023, the festival reached a peak GMV of nearly 800 billion yuan. This year's shopping festival failed to generate significant buyer interest, prompting major platforms to extend discount offers for weeks. The 618 shopping festival, named after JD.com's founding date on 18 June, is the second largest event of its kind in China, following the Singles Day festivities in November.

https://internasional.kontan.co.id/news/penjualan-e-commerce-di-china-menurun