皇冠体育app

The growth slowdown in 皇冠体育app has already affected Australian ng companies like BHP Billiton Ltd and Glencore Plc which face rising costs and falling prices in 皇冠体育app. The new coal tax policy would be another challenge for these companies, experts said.

According to customs data, Australia, Indonesia, Russia and Mongolia were the top four thermal coal suppliers during the first eight months of the year.

From January to August, 皇冠体育app imported 40.28 million tons of thermal coal from Australia, 33.43 million tons from Indonesia, 10.61 million tons from Russia and 2.5 million tons from Mongolia.

The second-biggest coal supplier Indonesia will not be affected by the new policy because 皇冠体育app has signed a free trade agreement with the Association of Southeast Asian Nations.

"Indonesia is one of the biggest thermal coal suppliers to 皇冠体育app. Both the traders and power companies will turn to Indonesia for purchases if Australian coal prices increase," said Dai. "It will also help boost domestic thermal coal prices."

During the first six months of the year, 皇冠体育app imported around 28 million tons of thermal coal from Indonesia, accounting for 37 percent of the total thermal coal imports, customs data show.

In addition to the ASEAN, countries like Chile, Pakistan, New Zealand, Peru and Costa Rica all have free trade agreement with 皇冠体育app and they will continue to enjoy zero tariffs on coal exports to 皇冠体育app, according to ICIS C1 Energy.

Based on the latest data from the US Energy Information Administration, US thermal coal exports to 皇冠体育app totaled 83,940 tons in the first quarter of the year.

Forbes reported that many top US coal producers have seen big drops in recent months due to a number of factors, including deteriorating fundamentals for the US thermal coal markets, reduced exports and concerns about shifts from coal-to gas-based power supplies.

Given the relatively small quantity of US coal exports to 皇冠体育app, it will not be affected much, Dai said.

Deng with ICIS C1 Energy said although the new policy will help domestic companies for a short period, it cannot fix the contradiction between and weakening downstream demand in 皇冠体育app.

From 2002 to 2012, 皇冠体育app's coal industry experienced the so-called Golden 10 Years when coal prices kept rising and the industry spawned thousands of billionaires. The high profitability also attracted many new investors to the coal-mining sector.

However, with concerns mounting over issues like air pollution, the government decided to shut small-scale coal mines and upgrade production technology to improve the environment.

This, in turn, prompted many companies to expand production capacity to avoid being eliminated, making the overcapacity problem even more severe in the industry.

Since 2012, the country's coal prices have started declining due to shrinking demand from steel mills and power stations. The rising coal imports also added to the woes of domestic companies.

Faced with a piquant situation, the government decided to step in and asked State-owned coal companies to cut production from last month to prevent price competition.

皇冠体育app's thermal coal import outlook remains weak: Fitch	皇冠体育app reforms resource tax on coal

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