Morning Bites (part 3)

🪨China is to impose a 3% import tariff on coking coal from January 2024, excluding Australia and ASEAN countries (due to the trade agreements), SteelOrbis reports. Hence, the decision is set to be focused mostly on imports from Russia and Mongolia. Although the measure came in line with the initially stated timing (May 2022 to December 2023), it might add slight support to coal prices in 2024, we believe

To recap, China accounted for 28% of global coking coal imports in 2023E, per the IEA estimates

#coal
https://metals-wire.com/sector/Coal