Canadian coking coal exports to China down 49% in April
Canadian shipments of coking coal to China, the market’s largest consumer, fell by 49% month-on-month in April 2014, shipbroker Simson Spence and Young (SSY) said on Tuesday June 17.
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SSY said Canadian coking coal exports to China had fallen to 400,000 million tonnes in April, from close to 800,000 million tonnes in March.
Canada’s exports of the steelmaking raw material to China have fallen even further year-on-year, dropping by 60%, SSY said, quoting an industry source.
Seaborne coking coal prices have tumbled in the past year, hit by oversupply and a slowdown in the growth of China’s steel sector.
China, while the world’s largest consumer of coking coal, has plentiful domestic supplies of the raw material and only imports materials that complement its domestic supplies in terms of blends and price.
Steel First’s premium hard coking coal index cfr China fell to $121.29 per tonne on Tuesday June 17, down from more than $145 per tonne at the beginning of the year.
Exports of coking coal from Canada to global customers excluding the USA fell by 10% month-on-month in April to 2.5 million tonnes.