China coal group says US curbs on Russia to keep prices high, hurt exports
BEIJING - Tougher US sanctions on Russia's coal firms will keep global prices of high-calorific-value coal high in the near term, affecting a fifth of the latter's coal exports, a Chinese industry group warned on Wednesday.
Sanctions imposed last month by Washington specifically cite top exporters Suek and Mechel among broad targets ranging from payment systems to financial institutions and energy production.
Lower Russian exports could help allay oversupply fears and reduce pressure on prices, amid projections of tepid growth in shipments by major importers China and India, and higher exports by top coal exporter Indonesia.
Russia's coal export tariffs that took effect from the beginning of this month will also affect supply to China, one of its largest trade partners, said Su Huipeng, an analyst at the China Coal Transportation and Distribution Association.
March exports of coal from Russia are set to hit their lowest in at least seven years, ship tracking data from Kpler showed.
China's tariffs of 3% to 6% imposed this year on imports of coal from countries that do not have trade pacts with Beijing would also affect key suppliers, including Russia, though the costs will mostly be borne by sellers, Su told a virtual seminar.
Higher freight rates will also support international prices of coal, she added.
Comments
Research Reports
Projects
Latest Multimedia
Latest News
Showroom
Education: Consulting with member companies to obtain the optimal benefits from their B-BBEE spending, skills resources as well as B-BBEE points
VISIT SHOWROOM
Booyco Electronics, South African pioneer of Proximity Detection Systems, offers safety solutions for underground and surface mining, quarrying,...
VISIT SHOWROOM
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation
