China halts North Korean iron ore, coal imports
China has prohibited imports of coal, iron, iron ore, lead, lead ores, aquatic and marine products from North Korea effective 15 August. After 00:00 hours on 5 September no import registrations of the above products from North Korea will be processed by the government. The action follows United Nation Security Council resolution No.1718, imposing sanctions in retaliation for North Korea conducting missle tests, according to the Chinese Ministry of Commerce.
Traders said China was pressuring its iron ore traders to stop buying the commodity from North Korea even before a U.N Security Council vote this month to ban the trade as punishment for Pyongyang's missile tests. Reports suggest that domestic coking coal and iron ore traders were told 12-20 days ago that the government was no longer issuing import permits for these products from North Korea, Kallanish notes.
Coal imports passing through North Korea's Rason harbor but not originating from North Korea are not included. However the coal exporting countries should notify the U.N before shipping. This applies mainly to Russian coal, which is known to have been delivered to Posco in the past.
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Anonymous
Very good overview of the weekly steel market.
Anonymous