Australian coal exports to China have been formally blocked after months of import restrictions that have thrown the $14 billion export industry into turmoil.
China's spot coal prices have risen above $US90.82 per tonne compared to $US62.82 per tonne for Australian coal as it restricts imports to protect local producers. The decision aims to reduce the price for state-linked firms as Beijing continues to punish Australia economically for its push for a coronavirus inquiry, and criticism of China's human rights records and national security legislation.
The state media report is the most direct statement to date of an outright ban on Australia's third largest export to the country. In OctoberAustralian coal.
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