China to reinstate coal tariff

2014-10-11

China, the largest coal importer in the world, announced on Thursday to end zero duty on five coal products by 15 October.

China's tariff committee decided to reintroduce the most-favoured nation tariffs, varying from 3% to 6%. The tariffs for anthracite and coking coal will be set at 3%, bitumite at 6% and those for briquettes and other coals at 5%.

The new tariff is expected to limit coal imports and help struggling domestic producers. The zero duty was introduced some time ago to encourage coal imports and fill a domestic supply gap.

China's move aroused concern for the miners in Australia and Russia as it may lead to mine closures and job losses those countries.

Source from : CNSS

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