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Apart from seeking supplies overseas some Chinese steel mills may boost use of local coal which should benefit Shanxi Coking Coal Group Co Ltd [] the biggest supplier We buy some

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Chinese steel mills are paying exorbitant prices for coking coal an essential ingredient in the steel making process but there could be worse to come with a looming disruption to Australian

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China s steel mills and traders were scrambling to find alternative supplies of coking coal for steel making on Monday after Beijing slapped a surprise ban on coal imports from its isolated

Despite Pledges to Cut Emissions China Goes on a Coal Spree China is building large numbers of coal fired power plants to drive its post pandemic economy The government has promised a CO2 emissions peak by 2021 but the new coal binge jeopardizes both China s decarbonization plans and global efforts to tackle climate change

China s utilities face rising H2 coal bill as mine safety checks crimp supply A worker speaks as he loads coal on a truck at a depot near a coal mine on the outskirts of Jixi in Heilongjiang

Apart from seeking supplies overseas some Chinese steel mills may boost use of local coal which should benefit Shanxi Coking Coal Group Co Ltd [] the biggest supplier

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Domestic Chinese coking coal has been in tight supply as mining activities were restricted by the environmental and safety campaigns imposed by local governments across various provinces in the country We have been trying to recover from the restrictions which were eased by the government and ramped up our coal production amid a rising market but so far we have only managed to raise

China is in the middle of a huge power crunch as extreme weather surging demand for energy and strict limits on coal usage deliver a triple blow to the nation s electricity grid It s a problem

However this is paying off for Canada where the world s biggest coal exporter is now seeking alternative supply with Chinese steel mills reportedly paying at least 50% and up to 70 100% more for its mined coal One small cap hoping to gain from this transition is ASX junior Montem which listed a few short months ago with the goal of establishing itself as a coking coal supplier

China s expansion of coal powered steel mills accelerated sharply in the first half of 2021 exposing the government s reluctance to sacrifice industry fuelled growth to achieve its climate goals

China s 13th Five Year Plan FYP 2021 2021 for economic and social development features supply side reform of the coal sector Reform objectives aim to increase coal s competitiveness profitability and safety via a number of policy goals and actions These reforms will continue in the coming years One objective is to consolidate mines and companies to rationalise state owned

Domestic Chinese coking coal has been in tight supply as mining activities were restricted by the environmental and safety campaigns imposed by local governments across various provinces in the country We have been trying to recover from the restrictions which were eased by the government and ramped up our coal production amid a rising market but so far we have only managed to raise the

Several mills increased contractual volumes for north American metallurgical coal at the end of 2021 an end user from south China said We have also added about two vessels of hard premium coking coal for the yearly contact volume with a Canadian supplier so spot liquidity for such coal will continue to fall in 2021 an end user from South China said