Business
China formalises cut to Australian coal imports, state media reports – The Guardian
Mongolian, Indonesian and Russian imports to be prioritised after high-level meeting with power companies
China has formalised import restrictions targeting Australias $14bn coal exports, Chinese state media has reported.
The National Development and Reform Commission met 10 major power companies on the weekend and granted approval for them to import coal without clearance restrictions, except for Australia, according to the Global Times.
The report suggested China will prioritise imports from Mongolia, Indonesia and Russia, and power companies will share inventory to ensure prices do not exceed 640…
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