China’s National Development and Reform Commission (NDRC) allowed three central government-backed utilities and their main steel company to resume imports of coal from Australia after partially ending the unofficial ban on coal trade with Australia in 2020, Reuters reports on Thursday citing two people familiar with the matter.
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“NDRC convened China Datang Corp, China Huaneng Group, China Energy Investment Corporation and China Baowu Steel Group on Tuesday to discuss the resumption of coal imports from Australia”.
“Companies will receive permission to purchase Australian coal for own use only“.
“Some (Chinese) traders have started asking about February cargo prices after the NDRC meeting.”
“Current Australian coal prices remain attractive to Chinese buyers.”
Source: Fx Street
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