108 days ago • Posted by William Ramstein

Coal traders beware of China's ban on Australian coal

70 Australian ships are stuck in China seas as authorities have placed a ban on cheap Australian coal. China, is weary that low prices coming from imports would hurt its domestic coal markets. Australian prices have fallen further than anticipated to about half of Chinese coal costs. Chinese demand for Australian coal has fallen 16% last year to $7.9Bn and China began refocusing towards South African and Russian exporters. Source: Bloomberg