Steel product and coking coal prices rose in China amid Beijing's imposition of restrictions on coal imports from North Korea, according to the report. The effort is driven by compliance with United Nations sanctions against that country.
It is expected that Chinese metallurgists will seek cheaper alternatives to raw materials in the domestic market. In recent days, contracts for reinforcing steel have increased by 2.7% and coking coal contracts by 2.4%.
The ban on coal imports from North Korea will last until December 31 of this year, and China has stopped all imports since Sunday.
North Korea was China's fourth largest coal supplier in 2016. Over the past year, the volume of supplies of North Korean coal amounted to 22.48 million tons, an increase of 14.5% compared to 2015.
North Korean Coal Import Ban Boosts Steel Prices In China
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Azovpromstal® 20 February 2017 г. 10:38 |
