/CHINA: The FT ran a piece in NY hours....>

AUSTRALIA: /CHINA: The FT ran a piece in NY hours noting that "China is expected

to promote the use of domestic coal by tightening import rules, starting with

shipments from Australia, according to analysts and traders." The piece went on

to note that "traders said China's main state planning body, the National

Development and Reform Commission (NDRC), had instructed five large state-owned

utility companies not to buy Australian thermal coal."

- In terms of physical evidence, the piece noted that "Australian thermal coal

exports dropped 41 per cent in the week to May 24, compared with the previous

week, according to shipbroker Thurlestone Shipping."

- This is the latest press report on the matter, after the idea gathered steam

last week, on the back of reports pointing to local circulars in China pushing

for such a move.

- https://www.ft.com/content/6142f1b9-58cc-47e4-b2fb-8212ad792b2d