The government in China is set to reimpose coal import duties again from April 1, 2023, as the import tariff expires.
China’s Ministry of Finance said import duties of between 3 and 6% on coal will come into effect again as the zero duties were only imposed from May 1, 2022, to March 31, 2023, when the government decided not to extend them.
The zero tariffs were announced in late April 2022 to ensure the supply of raw materials to the energy and mining sectors. Besides, a month ago, the National Development and Reform Commission of China announced a large-scale plan to boost domestic supply, which included building a stockpile of 620 million tonnes.
Raw coal production in China reached 4.09 billion tonnes, an increase of 10% from January to November 2022.