Bloomberg reported that China, the world largest producer of coke doesn’t plan to cut a 40% export tax on the steelmaking ingredient, continuing to constrain exports next year.

Mr Huang Jingan general director at the China Coking Industry Association said “The global recession and China high export tax has slashed coke exports. The export environment is getting worse with falling foreign currencies and the government export curbs while imports may continue to rise.”

He said that Production may rise to between 330 million tonnes and 340 million tonnes this year should steelmakers in China not cut demand. The previous record output was 335 million tonnes in 2007.

Research company Umetal said the nation has production capacity of more than 400 million tonnes.

(Sourced from Bloomberg)