Met coke prices continue to rise, don't look for much relief

摘要

In a move that surprised few, the export tax on Chinese metallurgical coke was raised to 25 percent, effective January 1, 2008, under new guidelines enacted by the Chinese government. Previously the met coke export tax was 15 percent, being raised to that level June 1, 2007. The Chinese government is adopting policies that would keep greater quantities of met coke available for the country's domestic steel market. Sources believe China will issue export licenses for up to 14.0 MMt of met coke in 2008, in line with last year's quota. There had been speculation that China might scale back export licenses to include only 8.0 to 10.0 MMt of product in 2008.