Kazakh coal dropped to zero.
According to Argos, in October coal transit through Russia dropped to 30,000 tons, compared to 1 million tons in August and 500,000 tons in September, a 97% drop in a few months.
For October and November, Russian Railways did not approve a single request for the transit of Kazakh coal to the Baltic ports, market participants say.
Kazakhstan lost the southern route even earlier: it was reported that shipments through the OTEKO terminal in Taman were stopped from the beginning of August due to shipping disruptions in the Sea of Azov and the Black Sea.
Kazakhstan simply will not be able to quickly replace exports. The main buyers of its coal are Poland, the Netherlands and Turkey. Shipments via the Far East at current prices are far beyond profitability, and direct sales to China and Central Asia do not compensate for the lost volumes.