China imposes import tariffs on coal

As announced by China's Ministry of Finance, as of October 15 China will cancel its zero import tariff rates on five coal products, and will instead impose three percent import duty on anthracite coal and coking coal, six percent duty on bituminous coal, and five percent duty on both coal briquettes and other coals. The new arrangement is expected to limit coal imports and help struggling domestic producers against the current backdrop of weakening prices, large debts and new domestic coal production capacities.