No menu items!

China boosts Australian coal imports on hopes for more easing of curbs -traders, data Reuters via biedexmarkets.com

Other MarketsCommodities & FuturesChina boosts Australian coal imports on hopes for more easing of curbs...

© Reuters. FILE PHOTO: Coal is unloaded onto large piles at the Ulan Coal mines near the central New South Wales rural town of Mudgee in Australia, March 8, 2018. REUTERS/David Gray

By Muyu Xu and Chen Aizhu

SINGAPORE (Reuters) -Chinese utilities and traders have stepped up purchases of Australian coal in February, encouraged by signs of further policy relaxation after trade partially resumed last month following a two-year hiatus.

In early January, Beijing gave permission to four government-backed firms, comprising steel giant Baowu Group and three state utilities, to ship in Australian coal, the first sign of an easing of the unofficial import ban in place since late 2020. The ban was imposed after relations between Beijing and Canberra turned sour over several political and public health matters.

A full resumption in trade between the world’s biggest coal consumer and the world’s No. 2 exporter could support global prices for the fuel used in power generation and steel production.

At least 15 vessels hauling about 1.4 million tonnes of February-loading Australian coal are bound for China, according to shiptracking data from Refinitiv and Kpler.

Another more than 1 million tonnes of thermal coal have been booked to load in March, a senior trader with a state-run Chinese utility said.

“Trades have picked up significantly over the past three days following (the) ministry’s remarks,” he said.

A spokeswoman for China’s Ministry of Commerce, responding to a query at a news conference last Thursday about the process for importing Australian coal, said it was a normal commercial activity and that trades are processed via an automatic import licence system.

She added that it was up to companies to independently decide on coal imports based on their needs, technology and market situation.

However, traders remained cautious about possible bureaucratic delays.

“In theory, firms who acquire the licence would be able to get their cargoes through customs,” said another Chinese utility official.

“But it is still not clear if there will be hurdles at the customs clearance process, and we will have to wait and see once the coal arrives.”

Some of the vessels heading to China may change destination if cargoes get resold, traders said.

Chinese buyers may also face competition in Australian coal purchases as producers have pivoted their sales to other markets in China’s absence.

On an earnings call on Tuesday, BHP’s Chief Executive Mike Henry said: “We welcome about the opportunity to engage with customers in China over potential coal sales while keeping in mind that we did need to pivot our sales to other markets.”

Unlock Your Profit Potential: Actionable Stock News, Trading Signals, and More for Savvy Investors

Supercharge Your Investment Strategy Today with the Ultimate Streaming Platform and Premium Tools

Explore more

Unlock Your Profit Potential: Actionable Stock News, Trading Signals, and More for Savvy Investors

Supercharge Your Investment Strategy Today with the Ultimate Streaming Platform and Premium Tools

British lawmakers ramp up pressure on banks over savings rates, exec pay By Reuters

Global watchdog tackles ‘vulnerabilities’ in leveraged loans Reuters via biedexmarkets.com

By Huw Jones LONDON (Reuters) - Global securities regulators have proposed tightening how the leveraged loan market operates to tackle "vulnerabilities" after a prolonged...
Why meta-regulation matters for public health: the case of the EU better regulation agenda | Globalization and Health

Why meta-regulation matters for public health: the case of the EU...

Scholars seeking to understand what shapes population health have long recognised the need to look beyond proximal factors. A significant body of work harnesses...
Exclusive-Citigroup starts layoff talks after management overhaul -sources By Reuters

Exclusive-Citigroup starts layoff talks after management overhaul -sources Reuters via biedexmarkets.com

© Reuters. FILE PHOTO: A view of the exterior of the Citibank corporate headquarters in New York, New York, U.S. May 20, 2015. REUTERS/Mike...
Congressional Research Service Foresees Potential DEA Endorsement Of Marijuana Rescheduling - Verano Holdings (OTC:VRNOF)

Congressional Research Service Foresees Potential DEA Endorsement Of Marijuana Rescheduling –...

On August 29, 2023, the U.S. Department of Health and Human Services (HHS) recommended the DEA reclassify marijuana and move it from Schedule I to Schedule...
Amazon opens its biggest last-mile delivery center in Latin America By Reuters

Amazon opens its biggest last-mile delivery center in Latin America Reuters...

5/5 © Reuters. A general view of Amazon's new delivery center in Mexico City, Mexico, September 14, 2023. REUTERS/Raquel Cunha 2/5 By Daina Beth Solomon MEXICO CITY...
Air Force Secretary Frank Kendall talks Elon Musk, Ukraine, China, AI

Air Force Secretary Frank Kendall talks Elon Musk, Ukraine, China, AI

U.S. Air Force Secretary Frank Kendall does not shy away from commenting on controversy — even as it relates to the world's richest person...
under-$1 stocks to buy - The 3 Most Undervalued Under-$1 Stocks to Buy in September 2023

The 3 Most Undervalued Under-$1 Stocks to Buy in September 2023

The global inflation surge and monetary policy tightening by major central banks have all contributed to the market volatility this year. Despite that, both...
Russian law amendments punish 'discrediting' military, including voluntary formations By Reuters

US Homeland Security Department reveals new AI guardrails as it deploys...

© Reuters. The seal of the U.S. Department of Homeland Security is seen after a news conference near the International Bridge between Mexico...
British lawmakers ramp up pressure on banks over savings rates, exec pay By Reuters

Global watchdog tackles ‘vulnerabilities’ in leveraged loans Reuters via biedexmarkets.com

By Huw Jones LONDON (Reuters) - Global securities regulators have proposed tightening how the leveraged loan market operates to tackle "vulnerabilities" after a prolonged...
Why meta-regulation matters for public health: the case of the EU better regulation agenda | Globalization and Health

Why meta-regulation matters for public health: the case of the EU...

Scholars seeking to understand what shapes population health have long recognised the need to look beyond proximal factors. A significant body of work harnesses...
Exclusive-Citigroup starts layoff talks after management overhaul -sources By Reuters

Exclusive-Citigroup starts layoff talks after management overhaul -sources Reuters via biedexmarkets.com

© Reuters. FILE PHOTO: A view of the exterior of the Citibank corporate headquarters in New York, New York, U.S. May 20, 2015. REUTERS/Mike...
Congressional Research Service Foresees Potential DEA Endorsement Of Marijuana Rescheduling - Verano Holdings (OTC:VRNOF)

Congressional Research Service Foresees Potential DEA Endorsement Of Marijuana Rescheduling –...

On August 29, 2023, the U.S. Department of Health and Human Services (HHS) recommended the DEA reclassify marijuana and move it from Schedule I to Schedule...
Amazon opens its biggest last-mile delivery center in Latin America By Reuters

Amazon opens its biggest last-mile delivery center in Latin America Reuters...

5/5 © Reuters. A general view of Amazon's new delivery center in Mexico City, Mexico, September 14, 2023. REUTERS/Raquel Cunha 2/5 By Daina Beth Solomon MEXICO CITY...
Air Force Secretary Frank Kendall talks Elon Musk, Ukraine, China, AI

Air Force Secretary Frank Kendall talks Elon Musk, Ukraine, China, AI

U.S. Air Force Secretary Frank Kendall does not shy away from commenting on controversy — even as it relates to the world's richest person...
under-$1 stocks to buy - The 3 Most Undervalued Under-$1 Stocks to Buy in September 2023

The 3 Most Undervalued Under-$1 Stocks to Buy in September 2023

The global inflation surge and monetary policy tightening by major central banks have all contributed to the market volatility this year. Despite that, both...
Russian law amendments punish 'discrediting' military, including voluntary formations By Reuters

US Homeland Security Department reveals new AI guardrails as it deploys...

© Reuters. The seal of the U.S. Department of Homeland Security is seen after a news conference near the International Bridge between Mexico...