According to statistics of the Zhangjiagang Entry-Exit Inspection & Quarantine Bureau, Jiangsu Shagang Group has imported four batches of coking coke in March with a gross weight of 190,000 tonnes valued at USD 28.72 million. It is the first time the mill has imported coking coal in three years.
Shagang's move comes as overseas resources have become cheaper than domestically-produced coal. It is expected that the mill will bring in more than 1 million tonnes of coking coal this year,
At present the domestic price for coking coal stands at CNY 1400 per tonne while the imported price is at USD 150 per tonne, a difference of CNY 380 per tonne.
Source: Steel Guru
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