China: World's top coking coal importer by 2015

China is set to become the world's biggest importer of the steelmaking ingredient by 2015, placing "dizzying" upward pressure on coking coal prices, Luiz Sarcinelli, a coal industry consultant with Rio de Janeiro, Brazil-based Sage Consultoria Tecnica, has told Dow Jones Newswires. China led demand may cause coking coal prices to spiral higher over the next five years due to supply limitations, according to Sarcinelli.
"Five years ago, China was a net exporter of coking coal , and about three years ago started to import small tonnages, such as four million to five million tonnes a year," said Sarcinelli, adding, "But now, China is importing 40 million tonnes a year and could overtake Japan, which imports around 100 million tonnes, in 2015, to become the world's biggest importer."Nike