Oxbow, Xiangyu fortify China coke market control

摘要

US trading firm Oxbow Carbon's new joint venture with Yantai Xiangyu, the largest importer and distributor of petroleum coke in China, is expected to strengthen both companies' position as the main player for the commodity within China and on the US west coast. The consolidation will challenge competing Chinese importers and US exporters, particularly as they are already struggling with a rapid downturn in coke demand from Chinese buyers.