General
Coal exports from Port of Newcastle strong despite China’s ban on Australian coal
While Australian coal remains off limits in China, the trade tensions have barely dented overall export figures from Australia’s largest coal terminal, with producers finding other international markets.
Key points:
- Coal exports from Newcastle in December only declined 3 per cent
- Australia found new markets like India, since China’s demand inflated international prices
- Analysts predict higher coal prices could persist through most of 2021
China usually accounts for 20 per cent of exports from the Port of Newcastle, and when coal ships stopped leaving for China in November, it raised the prospect of a shortfall in demand.
Yet, overall export figures for December show only a 3 per cent decline on the previous year.
A total of 14.9 million…
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