The price of North Korean coal is increasing amid skyrocketing international energy prices due to bans on imports of Russian raw materials. The increase of coal prices may lead to a rise in illegal exports of North Korean coal.<\/p>\n
According to multiple Daily NK sources in North Korea on Wednesday, Chinese traders are paying an average of USD 70 per ton for smuggled North Korean coal.<\/span><\/p>\n That is not even one fourth of international price coals, including Australia\u2019s benchmark Newcastle index, which have been climbing at a frightening rate due to the EU\u2019s ban on Russian coal imports.<\/span><\/p>\n The price of smuggled North Korean coal is about half that of the local price in China, where there is a price cap. However, it is also more than double the price of exported North Korean coal prior to the COVID-19 pandemic.<\/span><\/p>\n Moreover, even compared to early October, when smuggled coal sold for about USD 50 a ton, the current price represents a more than 40% climb from six months earlier.<\/span><\/p>\n