2018 PREVIEW: Chinese government policy’s sway on coking coal market is here to stay

摘要

Chinese government policies, especially those limiting pollution, willcontinue to be a factor affecting coking coal prices in 2018.In 2017, China’s crackdown on pollution-causing heavy industries,including steel making, saw buyers of both domestic coking coal andseaborne cargoes adjusting their procurement policies.Chinese policy was a major influence on steel prices and margins in2017 and the expectations among market participants is that there isno reason for the government to lower the bar on environmentalstandards.