Coal’s fire fading

By Meagan Evans. Published at Feb 26, 2019, in Features

Coal is no doubt doing it tough.

Topping off last week was Friday’s front page news that China has cracked down on Australian coal imports.

Dalian Port Group in China's north is believed to have completely banned imports from five harbours, while other Chinese ports have pushed shipments back by 45 days.

And now there’s confirmation that Australian coal imports to China, which were the country’s largest source of coal, will be capped at a total of 12 million tonnes across all sources for 2019.

Rumours are that the move is in retaliation to Australia banning Chinese telco Huawei from bidding for 5G telecommunications contract along with a breakdown in the nations’ relationship.

tags

china coal

S3 Consortium Pty Ltd (CAR No.433913) is a corporate authorised representative of LeMessurier Securities Pty Ltd (AFSL No. 296877). The information contained in this article is general information only. Any advice is general advice only. Neither your personal objectives, financial situation nor needs have been taken into consideration. Accordingly you should consider how appropriate the advice (if any) is to those objectives, financial situation and needs, before acting on the advice.

Conflict of Interest Notice

S3 Consortium Pty Ltd does and seeks to do business with companies featured in its articles. As a result, investors should be aware that the Firm may have a conflict of interest that could affect the objectivity of this article. Investors should consider this article as only a single factor in making any investment decision. The publishers of this article also wish to disclose that they may hold this stock in their portfolios and that any decision to purchase this stock should be done so after the purchaser has made their own inquires as to the validity of any information in this article.

Publishers Notice

The information contained in this article is current at the finalised date. The information contained in this article is based on sources reasonably considered to be reliable by S3 Consortium Pty Ltd, and available in the public domain. No “insider information” is ever sourced, disclosed or used by S3 Consortium.