Mongolian coking coal miner Tavan Tolgoi, the state-owned
company had suspended all coal exports to China starting from January 11. The
reason behind the suspension is Mongolia wants to raise coking coal export
prices for China.
Majorly China's coking coal imports from Mongolia are from
Tavan Tolgoi mines from which the world's largest high-quality coking coal used
in steelmaking is extracted.
China imported 16.8 million tons of metallurgical coal from
Mongolia in the first 11 months of 2012, comprising over one third of total
imports.
From the price level above $300/MT in the first half of 2011
coking coal prices have gradually declined to the level of $160/MT it is
trading today.
The country also stopped all talks with international miners
on developing the western Tsankhi block of Tavan Tolgoi which holds
1.2 billion tons of coking coal.
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