Just seen this by 'ironcoallie' on the other WHC thread: 'From January to July, the import of coking coal increased, and the import increase mainly came from Mongolia and Russia. From January to July, the import volume of coking coal reached 68.23 million tons, a year-on-year increase of 29.3%. In July, the import volume of coking coal reached 10.84 million tons, a year-on-year increase of 52% and a month-on-month increase of 9.9%'.
Goes on to explain that China's thermal coal imports cetred around Mongolia, Indonesia, Russia and Australia. No mention of coking/met coal imports form Oz. And that's the problem. 10 years ago Indonesia and esp Mongolia exported very little coal. New/improved railway lines into Mongolia and Russiahave changed things considerably.
India has no coking coal to speak of and its steel industry is indeed ramping-up. But no country can match the quantities used by China. Not even close. So we simply have no option but to become more competive esp as China's steel production continues to decrease despite a big jump in exports.
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(20min delay)