Chinese metcoke industry does not want removal of export quotas
According to recent news in the market, Chinese metcoke industry is not in favor of removal of metcoke export duties. China Chamber of Commerce of Metals, Mineral and Chemicals Importers and Exporters stated that, removal of export quota will cause a sharp decrease in the prices and put domestic metcoke makers into difficulty. Moreover, they also asserted that lower export prices may result in anti-dumping allegations against China. Chinese government reduced the export of metcoke quota to 9 million tons from 12 million tons for 2004 however European Union (EU) demands removal of the quota completely. As previously reported by SteelOrbis, EU would take the case to World Trade Organization (WTO) as EU is of the opinion that such restriction is illegal. The deadline set for China to lift restrictions was May 14, 2004 however the subject will be discussed at the meetings that will be held in the coming days.