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| Chinese coal export quota plummets in 2008 - 07 Nov, 2008 | ||
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It is reported that, China has released the second batch of coal export quota, covering 15.9 million tonnes. Given the first batch of 31.8 million tonnes, total quota in this year adds up to 47.7 million tonnes, falling considerably from last year. China is one of the major coal exporters in the world, but as its economy develops, coal exports have posted a downtrend. The country once became a net coal importer in several months in 2007. According to the insider, among the second batch of quota, China Shenhua Group and China National Coal Group win 6.55 million tonnes each, Shanxi Coal Import & Export Group gets 1.6 million tonnes and China Minmetals gains 1.2 million tonnes. Total quota in this year amounts to 47.7 million tonnes, decreasing by 22.3 million tonnes compared with the 70 million tons in last year and dropping 10% from the actual export volume of 53 million tonnes in 2007. As per report coal enterprises were reluctant to export the material last year as international price stayed below domestic price, hence a large part of export quota was wasted and actual export volume recorded much smaller than the quota. (Source from MySteel.net) | ||
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