China stainless steel mogul fights to avoid a second collapse
A debt crisis is threatening the future of one of the world’s top stainless steel producers, Jiangsu Delong Nickel Industry.
China Customs data released over the weekend showed showed the country’s imports of coal in June jumped by 98% year-on-year to 27.2 million tonnes.
Platts reports coking coal rocketed by 94% to 6.5 million tonnes June compared to last year.
During the first half of 2012, China imported a total of 140 million tonnes which was 66% higher, boosted by an increase in coking coal imports of 175% year-on-year to 43.6 million.
In contrast China’s exports of coal slumped 18% during the first half compare to 2011.
