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The National Development and Reform Commission is working on cutting the 17% tariff on imported coal and related fees for port operation, a source of the China National Coal Association.
China became a coal net importer in 2009, and recorded a net import amount of 146 million tons in 2010. Its coal imports are expected to grow rapidly in the years to come as the economy continues to expand.
China imported 22% less coal in the first four months of this year from the same period a year ago, due to rising international coal prices.
Reduced tariffs on coal and port operation fees will help ease the coal shortages in the coastal industrial bases and put a check on domestic coal prices, a BOC International report said.
International coal prices are currently ¥108/ton costlier than domestic coal, according to China Minzu Securities. A percentage point decrease in the 17% tariff would reduce the cost of imported coal by ¥9/ton, so a four percentage point decrease, which Minzu Securities reckons the most likely, would narrow the gap between international and domestic coal prices to ¥72/ton.