AUD also pressured by a take on some....>

MARKET TALK: AUD also pressured by a take on some old news by the AFR, as they

note that "China has changed its inspection procedures for iron imports under

new rules that analysts say could be used to block Australia's most important

export, as trade tensions between the two countries escalate. China's Customs

authorities said in a notice the new supervising rules, which take effect on

June 1, mean customs officials would inspect iron ore at the request of the

trader or importer."

- The Global Times ran the following over 12 hrs ago: "China's GAC said on

Wednesday that it will streamline the inspection procedure for imported iron ore

at Chinese ports to facilitate trade. According to the new supervising rules,

which takes effect on June 1, customs officials will inspect iron ore at the

request of the trader or the importer. Previously, customs officers conducted

mandatory on-site inspections of iron ore batch by batch. When necessary,

Chinese customs officers will conduct test for harmful & toxic elements in

imported iron ore, according to the new rules."

- The Global Times story reads like the move could result in fewer inspections.