China’s National Development and Reform Commission (NDRC) has imposed further port restrictions on both metallurgical and thermal coal, effective from 14th November. There was no official announcement, but traders and steel mills have told Platts the NDRC verbally informed the General Administration of Customs that any imported coal would no longer be able to clear customs until the end of 2018. This means the volume of imported coal will likely be halted through the end of year, across all Chinese ports including the main northern ports of Caofeidian, Jingtang and Bayuquan. Those end-users who have outstanding import quotas for 2018, however, may report to the authority for review and approval, case-by-case. Port-related restrictions have been frequently imposed by the Chinese government this year. In April, users of southern ports were notified they would no longer be able to receive any imported coal. In July, northern ports such as Jingtang had transport restrictions imposed, with diesel-fueled trucks banned as an environmental measure. Import target Similar to many other commodities, government control of imports typically aims to support domestic producers and in this case, domestic coal prices, by ensuring the total import volume does not exceed the previous year’s. According to customs… continue reading
Continue reading Exit the Dragon? New port restrictions to limit Chinese met coal imports. This article appeared first on CTRM Center.
Source: CTRM Center