Insight
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6 Pages

China lowers coal export tax to help domestic miners


China lowers coal export tax to help domestic miners

Report summary

China's decision to lower coal export tariffs to allow miners to sell surplus production on the seaborne market is unlikely to fructify without significant tax concessions.

What's included?

This report includes 2 file(s)

  • China lowers coal export tax to help domestic miners PDF - 326.06 KB 6 Pages, 2 Tables, 7 Figures
  • China lowers coal export tax.xls XLS - 453.50 KB

Description

This Coal Insight report highlights the key issues surrounding this topic, and draws out the implications for those involved.

Participants, suppliers and advisors can use it to look at the trends, risks and issues within the coal industry and gain an alternative point of view when making decisions.

Wood Mackenzie is the only coal industry service provider that offers a market outlook integrated with other sector analyses, including macroeconomics, coal supply, steel markets and gas and power markets.

Our coal analysts are based in the markets they analyse. They work with objective, proprietary data to help you maximise your current and future decision making. From market dynamics to trade patterns, we give you confidence in your strategic planning.

  • Executive summary
  • Transition from a net exporter to a net importer of coal – what next?
  • Weak demand growth and oversupply, Chinese coal seeks an outlet
  • At current prices, it will be hard for Chinese coal to compete with cheaper international coal
  • Chinese coal can compete from cash cost perspective but again depends on removal of VAT and export tax
  • Conclusion

In this report there are 9 tables or charts, including:

  • Executive summary
  • Transition from a net exporter to a net importer of coal – what next?
    • China tax/rebate history
    • Thermal coal exports and quota (Mt)
    • Coking coal exports and quota (Mt)
    • Japanese Power Utilities Apr-Mar contract settlement (US$/t)
  • Weak demand growth and oversupply, Chinese coal seeks an outlet
  • At current prices, it will be hard for Chinese coal to compete with cheaper international coal
    • Delivered price of bit. coal into Japan (US$/t)
    • Delivered price of sub-bit. coal into Japan (US$/t)
    • Delivered price of bit. coal into S Korea (US$/t)
    • Delivered price of sub-bit. coal into S Korea (US$/t)
  • Chinese coal can compete from cash cost perspective but again depends on removal of VAT and export tax
    • Delivered thermal cash cost curve for Japan, 6000 kcal NAR (US$/t)
  • Conclusion
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