SteelOrbis Shanghai
China's Coke Industry Association (CCIA) announced its first price monitoring index for major coal chemicals products in the recent seminar regarding the coke market situation in the first half of 2006.
The starting year of the index for coal chemicals is 1994 and the base index is 100, aiming to be in accordance with the price index of CRU as well as the index of
China's iron and steel prices. The price index will be announced on monthly basis. The index prices are determined by CCIA, Metallurgical Information Center and Metallurgical Coal Chemicals Institution.
In the same seminar, Hou Zhanguo, deputy director-general of the National Development and Reform Commission put forth the goals for restructuring the coal chemicals industry. Accordingly,
China will keep the coke
production capacity at around 300 million metric tons, eliminate outdated capacity and establish some competitive companies in order to provide a capacity which meets the more than 80 percent of the requirements.