Latest news with #cokingcoal
Reuters
22-07-2025
- Business
- Reuters
China's coking coal prices hit daily limit again on chatter about government mine inspections
BEIJING, July 22 (Reuters) - Prices of coking coal futures in China hit their ceiling for a second successive session on Tuesday, amid market chatter about potential government inspections in China's major coal production hubs that might lead to supply disruptions. The most active China coking coal contract on the Dalian Commodity Exchange jumped nearly 8% to its highest price since March 19 at 1,048.5 yuan ($146.19) a metric ton. A document purported to be from the National Bureau of Energy calling for inspections at coal mines in eight provinces to determine whether production exceeded licensed capacity played a part in the price rise, said Simon Wu, a senior consultant at Wood Mackenzie. "This could potentially reduce the effective supply to the market," he said. Reuters could not verify the authenticity of a document circulating on social media from the Henan provincial government which contained inspection orders from the NBE. A phone call to a number in the document was answered by someone who said they were following instructions from the NBE and not to call again. The NBE did not immediately respond to a request for comment. Coking coal prices have gained 28% so far in July after a visit to Shanxi, China's top coal production hub, by President Xi Jinping earlier this month sparked speculation about a fresh wave of supply reform. ($1 = 7.1723 Chinese yuan)
ABC News
15-07-2025
- Business
- ABC News
Fox Resources' bid to develop coal mine on Qld's agricultural land rejected
The Queensland government has rejected an exploratory licence for a coking coal mine in one of the state's biggest food-growing regions. Attorney-General Deb Frecklington said it was not in the public interest. "Many significant community concerns were raised about the potential impacts of a future coal mine on the region's agricultural industry, water resources, environmental values, livability and tourism industry," a statement said. Fox Resources had applied for a mineral development licence (MDL) to explore more than 7,800 hectares of agricultural and residential land about 20 kilometres north of Bundaberg. Previously, the company's executive director Bruce Garlick said under the application, the company was seeking to drill five bore holes for exploration purposes. "The company recognises the importance of protecting the region's key agricultural and other industries, with no impact on the aquifer used for local water consumption and agricultural use." The resources company says the operation would create 200 local jobs and bring "huge economic benefit" to the region if it went ahead. Farmer Judy Plath said the decision signalled the end of a lengthy process. The application was made in 2019 and was first rejected by the previous Labor government in 2022. When that decision was overturned by the Supreme Court in September 2023, Fox Resources reapplied. The MDL has now been officially rejected. Ms Plath said residents had been overwhelmed by the thought of losing their homes. "The fact that a coal mine, an underground coal mine, could have been built in that area and damaged the underground aquifers that those farmers and residents were relying on was very daunting," she said. "I think this fight demonstrates that prime agricultural land, and the water that it relies on, is worth fighting for and we as a community, as a farming region, should never take it lying down." Cristel Simmonds from the Coal Free Bundaberg Action Group said it had been an emotional journey. "It was in an agricultural food bowl, it was so close to the Great Barrier Reef and people's homes … What were the implications going to be for that?" Member for Bundaberg Stephen Bennett said he believed the decision could not be taken to the courts again. "This has been through Crown law, extensive review. The advice I understand from the Resources Minister [Dale Last] and the Attorney-General is that this won't be repealed or even put to a land court decision," he said. Fox Resources has been contacted for comment.
Bloomberg
18-06-2025
- Business
- Bloomberg
Tanking China Coking Coal Market Gets Respite After Output Halts
Chinese coking coal futures have staged a rare recovery this month, with the latest gains driven by temporary halts to production in the mining hub of Shanxi as regulators conduct environmental assessments. Inspections in the Linfen area of the province have intensified, and mines delivering about 10.5 million tons a year were verbally notified on Monday to suspend operations, according to industry publication SXCoal. Some miners have reported that the stoppages are provisionally scheduled to last 10 days.
Bloomberg
29-05-2025
- Business
- Bloomberg
China's Steel Output Cuts Could Intensify Coking Coal's Plunge
China's declining steel demand is sweeping through related markets, with prices of the coking coal and coke used in blast furnaces plunging to their lowest since 2016. Steel mills are expected to curtail production this year to cope with the drop in consumption. The protracted collapse in the property sector remains the biggest drag, while exports that have helped soak up the domestic surplus are likely to recede in the face of mounting trade barriers.
