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China to Extend Restrictions on Australian Coal Imports - Analysts

Coal News - Published on Mon, 04 Nov 2019

Image Source: thenational.ae
AFR reported that analysts and traders in China last week said that they expect the restrictions on Australian coal to remain in force for a while as Chinese government seeks to moderate a spike in foreign imports coal to protect domestic supply. 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

Analysts at consultancy Today Think Tank Energy said coal imports at those two ports had stopped last 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.

China’s coal imports are expected to rise more than 10 per cent this year, higher than previous forecasts. Customs data showed China imported 251 million tonnes of coal for the first three quarters of the calendar year, up 9.5 per cent. Analysts predicted that if the Chinese government did not impose further restrictions on imported coal in the next two months, the total would hit 340 million tonnes, or a 20 per cent year-on-year increase.

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Posted By : Rabi Wangkhem on Mon, 04 Nov 2019
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