Three years of trade curbs have gutted Australia’s exports to China across a bunch of commodities, from luxury items like lobster to vital fuels like coal. Beijing imposed a variety of restrictions in 2020, from tariffs to unofficial bans, after Australia called for an international investigation into the origins of Covid-19. It capped a souring of relations that began in 2018, when Canberra barred Huawei Technologies Co. from participating in its 5G network.
SINGAPORE - China's imports of Australian coal rose in July even as total coal arrivals declined, with Australia's high-quality fuel remaining cheaper than domestic supplies while demand from utilities stayed strong amid stifling hot weather.
Australian shipments comprised 6.15-million tons of thermal coal used in power plants and 161 619 t of coking coal for steelmaking. High-quality Australian thermal coal is needed for China's power plants to meet soaring electricity consumption in summer when households increase air conditioning demand.
Analysts and market participants expect Australian coal imports to remain high through the year - assuming no policy changes - supported by robust import profits and lower domestic output due to stricter mine safety inspections.
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