Chinese Ministry of Finance will now offer exemptions to tariffs on US petcoke imports, and applications can be submitted starting March. 2. A US-based trader attributes the decision to sustained demand amid reduced petcoke production from China's refineries, which was caused by the coronavirus. While the trader believes that the decision will reopen the Chinese market, he does not expect US petcoke to recover. Another US-based market source believes that demand for US petcoke should experience a net increase, but prices will be lower as a result of the virus outbreak. S&P Global Platts's latest assessments had US West Coast (USWC) Petcoke sent to China at $50/mt FOB and 3% USWC FOB at $44/mt.
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