China Cuts Coal Export Quotas

China has cut its coal export quotas for the year to 53 million tonnes, as the government tries to direct production to its own economy, writes Reuters.

The 24 percent cut has not come as a surprise to analysts, who say lower Chinese coal exports will continue to keep global coal prices high.

China is the world's largest coal producer and consumer, exporting 53.17 tonnes in 2007.

By staff writer