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Long-term local Chinese coking coal prices for Q1 rise faster than expected-緊固件展-2024第二十四屆廣州國(guó)際緊固件及設(shè)備展覽會(huì)-巨浪展覽-The 24th China(Guangzhou)Int’l Fastener & Equipment Exhibition
1/8/2024 緊固件展-緊固件采購(gòu)會(huì)-國(guó)際緊固件展-fastener expo |
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On December 21. China''s Tarif Commission of the State Council announced that China will reinstate a three percentimport tariff on metallurgical coal as of January 1, 2024, as previously reported by SteelOrbis. The rise in the importtarif has contributed to various increases in long-term local prices of coking coal for the first three months this year inChina. For instance, the long-term prices of coking coal in the first three months rose by the highest margin of RMB200/mt ($28/mt) in many regions compared to the last three months of last year, exceeding market players''expectations.
satetv investoatons at mines and producton restrctons for env ronmenta orotecton purooses are redarded asfactors which contributed to the decline in production at the end of last year, while the decreasing import volume ofcoking coal also bolstered prices.
However, after the increase in long-term prices of coking coal, which are stil lower than prices in the import spotmarket, Chinese steelmakers may still prioritize purchases of long-term supplies. Moreover, market players think thatdemand ahead of the Chinese New Year holiday wil likely provide support for coking coal prices as downstream usersand traders will build up certain amounts of stock.
緊固件展-2024第二十四屆廣州國(guó)際緊固件及設(shè)備展覽會(huì)-巨浪展覽-The 24th China(Guangzhou)Int’l Fastener & Equipment Exhibition
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