In its December quarterly report released on Thursday, Whitehaven Coal said the restrictions – which came after China imposed bans and punitive tariffs on Australian products including wine, barley and beef – had altered seaborne coal trade flows.
“Instead of being delivered to China, Australian coal is now finding customers in alternative destinations, including India, Pakistan and the Middle East, and traded coal historically delivered into these markets is finding its way into China.” But demand for Whitehaven’s metallurgical coal in the markets of India, Japan, Korea, Vietnam and Taiwan had increased as economic stimulus activity boosted steelmaking.
Whitehaven Coal chief executive Paul Flynn has given an insight into how the international coal trade has adjusted to the China ban. Picture: Dan Himbrechts/AAP“I haven’t heard any news on changes in quota. Quite the contrary, there seems to be more rhetoric about a firmer position from the Chinese about not taking Aussie coal.
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So all of this back and forth tit for tat is all just theatre and BS for the sheep?
Good...go and buy sh*tty coal elsewhere ccp... only Aussie coal burns hotter for longer. Good luck cvnts.
In that case double the price.
They'll be back when they find out the rubbish quality of coal in Indonesia and the huge expense of mining coal in Mongolia.
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