China lifts import ban on coal from Australia
Time:Fri, 17 Mar 2023 07:15:38 +0800
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According to informed sources, China has lifted the import ban on coal from Australia. Ports and customs offices have been told to allow the cargo into China, which meant that the trade restriction that was first imposed in late 2020 was ended. However, the official announcement hasn’t been issued.
The demand for quality coal from Chinese steelmakers and power plants is high. After the ban is lifted, the coal imports in the first half of March alone could reach 1 million tons, said a market participant.
Nevertheless, the demand would be limited due to the high-priced Australian coking coal. Although profit margins for Chinese steelmakers have improved recently with rising steel prices, cost pressures remained high.
