Chinese demand for Australian thermal coal was stronger than expected in the first half of 2018, but softened in September after the Chinese government imposed unofficial restrictions on coal imports in a bid to prop-up its domestic coal miners, the Financial Review reported.
“China’s reduction in coal imports is almost becoming an annual tradition, as the government works to try and support local producers,” James Rickards, investor relations manager for Yancoal. “As a result, it’s been both anticipated and prepared for. We’re likely to see continued fluctuations in pricing across both low and high ash thermal [coal], but the China decision shouldn’t cause too significant a ripple.”
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