China dials back its appetite for Australian coal

first_imgChina dials back its appetite for Australian coal FacebookTwitterLinkedInEmailPrint分享Hellenic Shipping News: China’s restrictions on Australian coal are expected to remain in place into next year as Beijing seeks to moderate a spike in foreign imports of the commodity to protect domestic supply.While there had been hopes in Canberra that the unofficial quota on Australian coal exports to China would be wound back shortly, analysts and traders in China said this week they expected the restrictions to remain in force for a while.Coal analysts also said there was evidence of intensifying curbs on imported coal, with the major southern Chinese ports of Guangzhou and Fuzhou banning the commodity this week. Both ports recorded a strong increase in imports this year.In comments published on their public social media account, analysts at consultancy Today Think Tank Energy said coal imports at those two ports had stopped this week and they expected further restrictions to apply.The analysts argued that foreign coal imports into China had been higher than expected this year, which meant there was still an incentive for Beijing to impose further restrictions to boost the domestic price.More: China to extend restrictions on Australian coal, say analystslast_img

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