China’s new coking coal import restrictions to hit seaborne prices: ANZ

摘要

London—China’s new restrictions on coking coal and thermal coal imports will likely lead to lower seaborne coking coal prices based on softer demand from other steel markets, investment bank ANZ said. ANZ said after following reports, its own checks in China have thrown up a "more confusing situation on the ground." No official notices on the coal import restrictions other than verbal instructions in some cases were confirmed as being received, ANZ analysts led by Daniel Hynes said in a Oct. 13 report.Details from any related new directive is yet to be seen after China's holidays last week. China has increased Australian coking coal imports by 37% between January through March as imports from Mongolia and the US weakened, and demand for premium hard coking coal remains strong, ANZ said.