Chinese petcoke buyers turning to Russia, Mideast after U.S. tariffs
SHANGHAI, (Reuters) - Chinese importers of petroleum coke are buying more volumes from Russia and the Middle East due to a hefty tariff on shipments from the United States, previously one of China’s main sources of the material used in
China slapped a 25 percent tariff on U.S. petroleum coke, a byproduct of oil refining, from Aug. 23 as part of its escalating trade row with the United States.
The move, when added to a longstanding 3 percent duty, brought China’s total import tariff on U.S.
Liu Tao, chairman of Shandong-based Sinoway Carbon, said his company stopped importing U.S.
“We can still buy from other areas such as China, Russia
AZ China is a consultancy focused on China’s
Angela Chen, vice president of Beijing-based DQ Carbon Group, said refiners in the United States would feel the sharpest impact.
China imported around 3.5 million tonnes of
“U.S. refineries will be largely affected due to their reliance on exports to the China market,” if the trade war keeps raging, Chen said.
The most likely replacements would come from Saudi Arabia and Russia, she said. (Reporting by Tom Daly; Editing by Tom Hogue)
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