Bharat Coking Coal Q1 Output Drops to 6.56 Million Tonnes

The US International Trade Commission has opened the probes following petitions from US manufacturers alleging the goods are being sold below fair value and are subsidized, causing material injury to the domestic industry; the investigation covers HS codes 7305.31.60, 7306.11.00, 7306.40.50 (and possibly 7306.40.10), with a preliminary ruling expected by end of August and findings due to the Commerce Department by early September, part of a broader wave of trade defense measures across the US, EU, UK, India, and the EAEU as governments move to shield domestic steel industries from oversupply.

In the first six months, among industrial enterprises above designated size, state-controlled enterprises realized a total profit of 1,307.74 billion yuan, up 17.9% YoY; joint-stock enterprises, 3,044.32 billion yuan, up 24.7% YoY; foreign-invested enterprises and those with investment from Hong Kong, Macao, and Taiwan, 887.32 billion yuan, up 2.6% YoY; and private enterprises, 965.56 billion yuan, up 13.0% YoY. In the first six months, the mining sector realized a total profit of 574.50 billion yuan, up 33.5% YoY; the manufacturing sector, 2,971.21 billion yuan, up 20.1% YoY; and the electricity, heat, gas, and water production and supply sector, 402.27 billion yuan, down 4.2% YoY.