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| China-Japan-Koreas |
| Surging Coal Prices Bring Windfall for N.Korean Regime |
| 2016-10-29 |
| Surging prices of coal are working against international efforts to sanction North Korea over its missile and nuclear programs. Coal is one of major products North Korea exports to China, accounting for over 40 percent of its total exports, and the rising prices are boosting funds for the North's weapons program. Trade volume in money terms between the two countries increased 3.4 percent on-year in the third quarter this year. "North Korean coal prices have surged by 68 percent in value recently... The average price of its anthracite coal arriving at major Chinese ports rose to US$99 a ton in recent weeks from around $59 in early August," the Wall Street Journal reported Tuesday. "In August, North Korea exported 2.47 million tons of coal to China, the highest monthly total on record. Exports slipped in September but remained higher than a year earlier." The main reason is new mining restrictions in China to tackle overcapacity and supply disruptions after heavy rains there in July. Global coal supply has also dwindled because of shutdowns at two major coal mines in Australia. Experts do not expect coal prices to cool off until the second half of next year. North Korea's coal shipments to China are rising because UN Security Council sanctions exempt transactions for "livelihood purposes." "Beijing is not going to go along with an effective coal embargo on North Korea because it hurts China too," the WSJ quoted an expert as saying. Meanwhile, trading volume between the North and China amounted to about $1.55 billion in the third quarter, Voice of America reported the same day, up 3.4 percent from a year earlier despite the sanctions. |
| Posted by:Steve White |
| #5 Eastern Pennsylvania has a lot of anthracite, but the mines were closed years ago - long before the War on Coal. I suppose there was no market for it then. |
| Posted by: Bobby 2016-10-29 18:55 |
| #4 Apparently North Korean coal is high quality anthracite, suitable for both iron smelting and heat, Bobby. |
| Posted by: trailing wife 2016-10-29 14:23 |
| #3 Gee, f the US were to sell coal to China, wouldn't that improve our balance of payments and employ American workers? Or is American coal more harmful to the climate than North Korean coal? |
| Posted by: Bobby 2016-10-29 09:21 |
| #2 ...that would be the Glorious Leader's birthday. |
| Posted by: Procopius2k 2016-10-29 07:40 |
| #1 Now there is a job to die for...being a coal miner in North Korea. And getting new shoes every Christmas. If they ever had any Christmas at all. |
| Posted by: Percy Gurly-Brown1136 2016-10-29 06:28 |