North Korean coal traders hope for sanctions relief

Some North Korean traders are offering cheap coal to Chinese buyers who are stockpiling raw materials in ports in the isolated country, hoping that recent diplomatic moves will ease sanctions banning North Korean coal purchases, three Chinese traders said.

Official data show that China has not imported coal from North Korea since October last year, after the United Nations banned Pyongyang from exporting coal in September.

In 2016, China, Pyongyang's main trading partner, bought 22.5 million tons of coal from North Korea for nearly $ 2 billion.

But Chinese traders said coal supplies rose after North Korean leader Kim Jong-un unexpectedly visited Beijing in March and ahead of a scheduled meeting with US President Donald Trump.

“Over the past few weeks, more and more people have accumulated coal,” said one trader.