As the relations between China and Australia improved and anti-pandemic restrictions ended, China's coal import ban from Australia was lifted.
The official lifting of this ban, which has been unofficially maintained since October 2020, has been expected by China's major coal consumers since January 2023.
Although there is no statement from Beijing yet, a local trader states that the steel trade has been authorized by the customs and the bans have been lifted.
Australia's coking coal prices are trading at $360/tonne FOB in Asia despite the lifting of the bans, creating a high cost issue for China, according to the country's news sources. Therefore, no buying interest has occurred yet.
Coking coal futures fell RMB 52.5/t to RMB 1,968/t on the Dalian Mercantile Exchange.
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