China's coke exports in June were up 7%, or 10,000 mt, to 150,000 mt from 140,000 mt in June, but dropped 53.1% from the same month last year, according to a release Tuesday by China Customs Statistics. For January-June 2012, China's coke exports were 580,000 mt, 76.2% lower than 2.45 million mt in the same period last year.
China's coke exports have remained low since 2008 when they were first subject to a 40% export tax. Exports rose early last year when the Queensland floods in Australia pushed up global coking coal prices and made China's export price acceptable to overseas buyers, but they fell back once Australian coking coal supply normalized.
China is currently in the process of considering how to implement World Trade Organization recommendations regarding export duties on raw materials such as metallurgical coke. Industry sources said Beijing was reviewing its policy and could cut the coke export tax. A decision is expected by the end of 2012.