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PrintChinese coking enterprises are maintaining their proactive plans to expand production capacities despite an increasing oversupply of coke, said Huang Jin'gan, chairman of China Coking Industry Association.
Huang expected that China would have around 50 million tons of new coke production capacities introduced from large- and medium-sized coke ovens somewhere between 2009 and 2010, in addition to more than 30 million tons of new capacities coming on stream in 2008.
However, seven million tons of production capacities are already idle in the country.
Currently, China has a total of 390 million-400 million tons of coke production capacity in comparison to the 280-290 million tons of domestic demand estimated for 2009.
Meanwhile, exports of coke have recorded continuous drops due to steel and iron production cuts in overseas markets.
Statistics show that China exported 100,000 tons of coke within the first two months of 2009, slumping 93.9 percent from the same period of 2008.
China's coke producers are doomed to suffer losses resulting from diminishing prices of coal and coke, Huang said, adding they must reduce or restrict production in a bid to ease losses amid serious oversupply.
(www.chinamining.org)
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