| China cleared almost 12 million tonnes of Australian coal stranded at its ports in the fourth quarter of last year as it struggled to meet demand for the commodity.
Coal traders and executives, along with analysts’ research based on the latest Customs data, confirms that some Australian coal was cleared at Chinese ports from October, with the monthly amounts increasing through to December.Chinese research house Fengkuang Coal Logistics published a report on its WeChat account last week which said 6.2 million tonnes of Australian coking coal and 5.
It quoted Chinese government Customs data which showed imports of Australian coking coal was 778,000 tonnes in October, 2.67 million tonnes in November and 2.72 million in December. It said Australian coking coal, used in steelmaking, accounted for 11.3 per cent of China’s total imports in 2021.One source at an Australian coal exporter confirmed that shipments which had been stranded at Chinese ports for more than a year were now making their way into the country.
“There is certainly no new coal being sold to China, but traders who have bought the coal – some of them have had it sitting on the docks but not cleared to be sold into China for a year – say it is getting through,” he said. “Because of the coal shortage they may have allowed more of this coal that has been landed but not cleared to go into the market.”
Actually.. they r just using free storage
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