Longbao begins exporting refined coal

Longbao begins exporting refined coal

Longbao Coal Industry Company exported a 6'000-ton batch of refined coal to Canada earlier this week, making it the first company in China's Fujian Province to export refined coal. Longbao, which boasts a 400'000-ton annual capacity, expects to ship two more batches of refined coal. The three shipments will together total 60'000 tons. Refined coal is used as de-oxidant in the production of alloy materials. The price of foreign refined coal has been nearly RMB 100/ton higher than China's domestic price, which is currently around RMB 600/ton ($74/ton). $1 = 8.11 RMB