Cheap Chinese coke: A new threat to coking coal exports
Chinese coke exports hit an annualised rate of around 8 Mt year-to-date June, over twice the level exported in 2013 and over 7 Mt more than 2012. Lower resultant coke prices are encouraging Pacific basin steel makers to increase coke imports at the expense of coking coal; Japanese and Indian coke imports have risen by a factor of 3 and 1.6 respectively this year. Surging demand for coke imports is exacerbating the problems for coking coal exporters in an already weak demand environment.
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China the dominant force in coke production and trade