China formalises cut to Australian coal imports, state media reports
The Chinese state reported that China has formalised import restrictions targeting Australia’s $14bn coal exports and China would prioritise imports from Mongolia, Indonesia and Russia. Also, power companies will share inventory to ensure prices do not exceed 640 yuan ($97.8) per ton.
The National Development and Reform Commission met 10 major power companies on the weekend and granted approval for them to import coal without clearance restrictions, except for Australia.
Due to China’s import restrictions, at least 60 bulk carriers holding hundreds of millions tonnes of Australian coal stranded off the Chinese coast.
Source: The Guardian #Dec14
https://www.theguardian.com/australia-news/2020/dec/14/china-formalises-cut-to-australias-coal-imports-state-media-reports?CMP=Share_iOSApp_Other
#AustraliaChina #Coal #TradeRestriction #AustralianCoal
The Chinese state reported that China has formalised import restrictions targeting Australia’s $14bn coal exports and China would prioritise imports from Mongolia, Indonesia and Russia. Also, power companies will share inventory to ensure prices do not exceed 640 yuan ($97.8) per ton.
The National Development and Reform Commission met 10 major power companies on the weekend and granted approval for them to import coal without clearance restrictions, except for Australia.
Due to China’s import restrictions, at least 60 bulk carriers holding hundreds of millions tonnes of Australian coal stranded off the Chinese coast.
Source: The Guardian #Dec14
https://www.theguardian.com/australia-news/2020/dec/14/china-formalises-cut-to-australias-coal-imports-state-media-reports?CMP=Share_iOSApp_Other
#AustraliaChina #Coal #TradeRestriction #AustralianCoal