Tangshan port restrictions: The beginning of the end for coking coal imports into China?

On 16th July, both Caofeidian and Jingtang ports in northern China verbally notified a halt to custom declarations. These ports are critical to the metallurgical coal trade into China, raising fears about the near-term future of the seaborne coking coal trade. But, the subsequent custom clearance bans at Rizhao and Qingdao ports in Shandong -and worsening clearance delays at Fangcheng port - suggests that, as usual, the thermal coal trade is the major target. And the focus on traders should also allay fears that some widespread ban is in the offing.