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China has started buying Australian coal.

China has started buying Australian coal with the end of the unofficial ban.

China has started buying Australian coal.

China started buying Australian coal this month, marking the end of more than two years of unofficial ban, according to market sources.

Last month, three Chinese state-owned power plants - China Datang Corp., China Huaneng Group Co and China Energy Investment Corp. - in addition, steelmaker China Baowu Steel Group Corp has reportedly received permission from the government to import Australian coal.

The data shows that about 1.4 million mt of coal were loaded from Australia to China in about 14 shipments.

An Indonesian trader said, "As far as we know, not only four Chinese companies, but also traders are demanding Australian coal, which means an opportunity for them to trade. This may not affect Indonesian coal, as China will have to look to Asia for low CV requirements." 

Chinese coal buyers have been torn apart by rising COVID-19 cases and the New Year holidays, as a result, Indonesian coal demand has been sluggish so far. FOB Kalimantan 4,200 GAR kcal/kg coal was last rated at $67.50/mt on February 21.

On February 21, Newcastle rated 5,500 kcal/kg NAR coal with 23% ash at $118/mt FOB. Demand for Newcastle high-ash coal in 2022 from India and Southeast Asia weakened as buyers sought more competitively priced alternatives.

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