China is to apply import duties on coal from October 15 in an effort to prop up its domestic coal industry, which is suffering from slumping prices, heavy debts and new domestic capacity.
Tariffs of 3 per cent on anthracite and coking coal, 5 per cent on briquettes and 6 per cent on other coals were announced by the Ministry of Finance yesterday, reinstating duties scrapped in 2007 when coal demand was soaring.
The tariffs are a second blow for countries exporting coal to China, after an ban on selling or transporting low-grade coal. Alarm over that policy, announced last month, faded after Beijing appeared to exempt power plants, the largest consumers of coal.
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