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China lowers coal export tax to help domestic miners

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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

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  • Document

    China lowers coal export tax.xls

    XLS 453.50 KB

  • Document

    China lowers coal export tax to help domestic miners

    PDF 326.06 KB

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    China lowers coal export tax to help domestic miners

    ZIP 562.87 KB

Table of contents

  • 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

Tables and charts

This report includes 9 images and tables including:

Images

  • Thermal coal exports and quota (Mt)
  • Coking coal exports and quota (Mt)
  • 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)
  • Delivered thermal cash cost curve for Japan, 6000 kcal NAR (US$/t)

Tables

  • China tax/rebate history
  • Japanese Power Utilities Apr-Mar contract settlement (US$/t)

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