• 4 minutes China - EU: Xi Says Cooperation Is Mainstream In Their Ties
  • 8 minutes The Mining Industry Has Had It Easy For Far Too Long
  • 11 minutes Lawsuit-Happy Councilor Wants to Take Big Oil to Court
  • 15 minutes U.S. Shale Output may Start Dropping Next Year
  • 4 mins Dutch Populists Shock the EU with Election Victory
  • 15 hours Venezuela Says Russian Troops Land to Service Military Equipment
  • 10 hours Trump to Make Allies Pay More to Host US Bases
  • 5 hours Multi-well Pad Drilling Cost Question
  • 15 hours U.S.-China Trade War Poses Biggest Risk To Global Stability
  • 31 mins England Running Out of Water?
  • 23 mins Public Companies that attended OPEC "THREAT DINNER" at CERRAWEEK must disclose any risks in their SEC Financial filings.
  • 1 day One Last Warning For The U.S. Shale Patch
  • 3 hours 3 Pipes: EPIC 900K, CACTUS II 670K, GREY OAKS 800K
  • 20 hours Read: OPEC THREATENED TO KILL US SHALE
  • 2 days The Political Debacle: Brexit delayed
  • 2 days Climate change's fingerprints are on U.S. Midwest floods
  • 1 day European Parliament demands Nord-Stream-ii pipeline to be Stopped

Breaking News:

Algerian Oil Output Unchanged Amid Unrest

Alt Text

Is This The Next Coal Megaproject?

A new Russo-Chinese megaproject could…

Alt Text

Why Can’t Japan Kick Coal And Nuclear?

A new report shows that…

Alt Text

The Billion Dollar Bet On European Coal

A Czech energy tycoon is…

MINING.com

MINING.com

MINING.com is a web-based global mining publication focusing on news and commentary about mining and mineral exploration. The site is a one-stop-shop for mining industry…

More Info

Trending Discussions

North Korea Hit Hard As Coal Exports To China Fall 71%

According to Chinese customs data released on Tuesday, the country imported 512,000 tonnes of coal – mainly the steelmaking variety – from North Korea in September. Volumes were down 71.6 percent from the same month last year as Beijing institutes the latest round of UN sanctions on the rogue regime.

While the UN Security Council ban on Pyongyang's sale of coal, iron ore, lead, lead ore and seafood are only due to come into force this month, China began to enforce the restrictions in mid-August. The September coal cargoes were valued at $44 million which translates into $86 a tonne, a deep discount to the ruling price for metallurgical coal.

In the past China skirted embargoes against North Korea on humanitarian grounds

Coal imports for the first nine months of 2017 totalled 4.83 million tonnes. Last year China imported 22.4 million tonnes of anthracitic coal that can be used as an alternative to coking coal in the steelmaking process from North Korea, a nearly 15 percent rise from 2015. That placed the Asian country just behind in Australia as China's number two supplier of met coal.

In the past China skirted embargoes against North Korea on humanitarian grounds, saying a ban would hurt ordinary citizens of the impoverished country, but pressure on Beijing has increased as Kim Jong-un's nuclear missile program advances.

Coking coal is trading nearly $140 a tonne below its mid-April peak when the price of jumped to highest since the second quarter of 2011 due to disruptions related to cyclone Debbie in the state of Queensland. Related: Saudi Rhetoric Sends Oil Prices To Two-Year High

But most producers would probably be happy with today's price around $178. In November 2015, the spot price fell to a record low of $75 a tonne. Coking coal averaged $121 a tonne in 2016 and $90 the year before.

China's imports of iron ore and lead concentrate from North Korea also fell sharply in September, back to levels last seen at the start of the decade according to Reuters calculations.

Lead ore and concentrate shipments came in at just 1,321 tonnes, worth $1.18 million, down 84 percent from a year earlier. Iron ore shipments plunged 98 percent to just over 3,000 tonnes, worth about $55,000. Chinese exports of gasoline and diesel to North Korea have fallen to close to zero.

By Mining.com

More Top Reads From Oilprice.com:




Download The Free Oilprice App Today

Back to homepage

Trending Discussions


Leave a comment

Leave a comment




Oilprice - The No. 1 Source for Oil & Energy News