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-CHINA: ANZ: Australian Thermal Coal Exports Hold Up Relatively Well

AUSTRALIA

ANZ note that "China has been an important market for Australian thermal coal. It made up as much as 30% of Australia's total exports in 2018. This market share has been falling ever since; with the rate accelerating even before the recent restrictions. In October, only 10%, or 1.7mt of Australia's thermal coal found its way to China. However, the ship tracking data shows the impact the restrictions have had. Total coal exports to China have effectively stopped, with only 382kt in the four weeks to 14 December. Australian exporters have found additional buyers in South Korea, Vietnam and Japan. As such we see Australia's thermal coal exports holding up relatively well, despite the Chinese ban."

MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
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MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
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