Australia’s exports of thermal coal for power plants and coking coal for steelmaking rose to 6.69 million tons last month, the highest since July 2020.
| China’s booming coal imports include more high-grade cargoes from Australia and Russia, as users offset the worsening quality of coal mined at home with fuel from abroad.
A coal-fired power plant in Shanghai. China is increasing supply to avoid the power shortages that have crippled the economy in recent years.The endorsement represents a sharp turnaround in trade relations: Australian shipments were banned by Beijing from late 2020 to the start of this year after political ties soured.
“Russian and Australian coal shipments are taking market share from China’s biggest exporter Indonesia this year,” said Amy Xu, an analyst at Fenwei Energy Information Service. Power plants, as well as downstream sectors like chemicals, construction and metals smelting, are looking for higher grades to meet their needs, she said.
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