China to allow more metcoke exports upon EU demand
According to recent news in the market, China will allow export of more metcoke this year upon the demand of European Union (EU) as many European steel producers have been suffering from shortage of metcoke. Accordingly, a further 1.5 million tons will be added to the current amount of 2 million tons of metcoke allowed. China, exporting 14.7 million tons of metcoke in 2003, decided to reduce this amount between 8.3 million and 9.6 million tons in 2004 due to growth of economy. However, EU objected this decision as Chinese coke exports constitute half of the metcoke trade in the world. EU Commission is determined to force China to lift metcoke export-license as EU believes allowance of export of more metcoke will not solve shortage problem.