Rapid Decline in Briquette Consumption... Expected to Fall Below 500,000 Tons for the First Time This Year

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[Asia Economy Reporter Joo Sang-don] The annual consumption of briquettes, a heating fuel used in winter, is expected to fall below 500,000 tons this year. This is the first time in history that domestic briquette consumption has dropped below 500,000 tons. Briquette consumption is rapidly decreasing due to price increases and the expansion of alternative heating methods.

According to the Korea Mine Reclamation Corporation on the 24th, briquette consumption last year recorded 508,000 tons. In terms of briquette pieces, this amounts to approximately 141 million pieces (278 pieces per ton).

Briquette consumption has recently shown a sharp decline. From 2010 to 2013, briquette consumption fluctuated between 1.8 million and 1.9 million tons, but it dropped to 1.629 million tons in 2014, then continued to decrease to 1.473 million tons in 2015, 1.255 million tons in 2016, and 1.079 million tons in 2017. It further declined to 913,000 tons in 2018, a 15% decrease from the previous year, and then sharply fell by 29.4% to 644,000 tons in 2019.

Last year, it fell to 508,000 tons, which is half of the amount in 2017. If this trend continues this year, it is highly likely to drop below 500,000 tons. The continuous rise in briquette prices is considered the biggest factor affecting the decrease in consumption. The government has been steadily raising prices to reflect the actual cost of briquettes, and especially when briquette prices increased by 19.6% in November 2018, briquette consumption dropped by nearly 30% the following year. Additionally, a natural decrease in users is occurring due to the government's briquette boiler replacement project.

This content was produced with the assistance of AI translation services.