October 12, 2008

Chinese coke exports falls modestly in October 2007

Latest statistics show that China exported 1.42 million tonnes of coke in October 2007 down some 40,000 tonnes or 2.7%MoM. Exports during January to October 2007 totaled 13.15 million tonnes valued at USD2.47465 billion up by 9.4% and 50.1% respectively.

As China raised export tariff on coke since June 1st 2007 exports maintained at some 900,000 tonnes in June and July 2007 yet went back to a high level thereafter.

Market rumor goes around that the government will pull up export tariff on coke to 25% arousing panic among exporters along with limited export quota left. As a result, exporters rush for exports prior to the export tariff adjustment.

(Sourced from MySteel.net)