Business
Beijing ‘rebuffed’ pleas from Chinese steelmakers to lift ban on Australian coal – Sydney Morning Herald
Beijing has rejected pleas from China’s steel mills to lift bans on Australian coal, leaving dozens of ships stranded and clouding the outlook for miners.
“The Chinese steel industry was lobbying their government saying they needed Australian product because of the quality of it and the volume they need for making coke to make steel,” a source said. “That didn’t see any major change.”
China last year imported $4 billion of Australian thermal coal for use in power stations and nearly $10 billion of metallurgical coal, which is used in blast furnaces to make steel. Australian coal exporters have close and long running ties with their Chinese customers,…
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