Shanxi coke industry's H1 profit outpaces last year's total

Benefited from the price hikes, coke enterprises in Shanxi registered a record high profit and the coke industry turned out to be one of the main impetus for the large increase in the province's total profit.

During the first half year, coke enterprises above designated scale generated 43.117 billion yuan from main business operations, jumped 51.4% from the same period last year, and realized 1.725 billion yuan of profit, 1.12 times of the total profit made in 2006.

The total new-added profit of the whole coke industry amounted to 1.988 billion yuan in the first six months, about 25.77% of the province's total new-added industrial profit. Coke industry became the second largest industry in Shanxi after the steel industry in terms of newly-increased profit.

Coke enterprises above designated scale in Shanxi produced 47.33 million tons of coke in the first half year, up 21.2% year on year. Of which, the mechanical coke output increased 20.7% on year to 46.13 million tons. Total coke output during this period reached 47.33 million tons, growing 21.2% from 39.06 million tons a year earlier.

Boosted by strong demand, Shanxi's coke export surged 33.28% on year to 4.57 million tons, the provincial Economic Committee said mid-July. The export price now is about US$240-250/t FOB, and some higher at US$260/t.

China increased the export duty for coke products to 15% from 5% effective from June 1 this year.