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China, Russia will continue talks on coal import tariffs this May

From:Shandong RZ Drilling Tools Co.,ltd. 2016-03-26Hits:687

Summary:China, Russia will continue talks on coal import tariffs this May
 

Russia and China will continue talks on China’s coal import tariffs and quality supervision system during this year’s meeting of China-Russia Energy Cooperation Committee to be held in May, said the Deputy Prime Minister Arkady Dvorkovich. 

Companies are working on this and experts also are in discussion, said Arkady, who is in charge of fuel and energy synthesis problems.

Sources said Russia has been in talks with China to cancel import tariffs on coal except for lignite

Earlier this month, Alexander Novak, Minister of Russia Energy Ministry, said during his visit to China that Russia is expected to set up work team with Chinese counterparts to discuss the quality check of export coal at Russian ports before shipping to China.

The move is to address declining coal exports to China, resulting mainly from import tariff and quality checks imposed by the Chinese government last year.

Russia’s coal exports to China have slumped amid weak demand and excess supply, following China’s reimposition of import tariffs of 3-6% on the commodity from October 15, 2014.

Chinese customs data showed Russia was still the third-largest coal supplier to China in 2015, with thermal coal exports at 9.8 million tonnes to China, though down 35.39% on year.

China presently levies 3% import tariffs for anthracite coal and coking coal, 6% for non-coking bituminous coal, mostly thermal coal for power generation, and 3% on coal-quality lignite.

China lowered Australian coal import tariffs to 2%, a further reduction from 4% by the end of last year, compared to 6% prior to December 20. The present tariff will be exempted on January 1, 2017 under the China-Australia Free Trade Agreement signed last June.

 

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