Singapore—Concern over import restrictions grew in the southern Chinese region, including Guangzhou and Guangxi in Guangdong province, leaving most buyers for high-ash Australian coal on the sidelines, sources said Monday. High-ash Australian coal offers nosedived to $45/mt FOB, down $2/mt from Friday, while a trade was concluded earlier at $48.50/mt CFR East China on a May-loading Capesize ship of 5,500 kcal/kg NAR coal, sources said. A bid was also heard at $43/mt FOB for this grade, according to sources. Another South China-based trader said the cost of importing this grade was around Yuan 450/mt CFR S China, approaching the offer price of 5,500 kcal/kg NAR domestic coal at Yuan 470/mt FOB Qinhuangdao.
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