No 1 source of global mining news and opinion
Australia shipped more coal to China than Japan in April, the first time this has happened in any month in more than four years, underscoring shifting market dynamics and an improved political relationship with Beijing.
Australia’s coal exports to China have been recovering since February last year when the world’s biggest buyer of the polluting fuel ended an informal ban on imports. The ban was never official, unlike some of China’s other actions against Australia, such as punitive tariffs on barley, wine and lobsters, but it still resulted in shipments effectively dropping to zero.
It could also be argued the ban on coal was a failure from a Chinese perspective, as it led to higher prices for all grades of thermal coal in Asia, while Australia was able to find other buyers, mainly India, for its exports. Exports to China hit a record high of 12.03 million tons in June 2020, just before the ban was imposed.
The bulk of Australia’s exports to India are metallurgical coal, which accounted for 1.52 million tons in April, or about 58% of the total.
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
China, Japan coast guards patrol disputed East China Sea watersChina, Japan coast guards patrol disputed East China Sea waters
Read more »
Japan 5-year yields climb to the highest since April 2011 ahead of BoJ rate decisionJapan’s five-year bond yield rose to the highest level since April 2011 ahead of the Bank of Japan (BoJ) interest rate decision on Friday, per A Jiji.
Read more »
Japan Inflation: Tokyo Consumer Price Index rises 1.8% YoY in April vs. 2.6% expectedThe headline Tokyo Consumer Price Index (CPI) for April rose 1.8% YoY, compared to a 2.6% rise in the previous reading, the Statistics Bureau of Japan showed on Friday.
Read more »
Column: China PMI boosts sentiment, but commodity imports may have front-runNo 1 source of global mining news and opinion
Read more »
San Diego's Weather Forecast for April 29, 2024: Warm end to AprilMegan Parry joined the ABC 10News team in 2014 as an esteemed meteorologist with a passion for delivering accurate weather forecasts and engaging with her community.
Read more »
Vote for Mid-Penn softball player of the week for games played April 22-April 27Click here for the latest PennLive MPC softball fan vote.
Read more »