Robust China coal demand amid Australia import ban fuels price rally: Russell
By Clyde Russell | Reuters
Seaborne coal has become a quiet winner among energy commodities, lacking the attention of higher-profile crude oil and liquefied natural gas (LNG), but enjoying strong gains amid rising demand.
Both thermal coal, used in power plants, and coking coal, used to make steel, have rallied strongly in recent months. And in both cases the driver has largely been China, the world’s biggest producer, importer and consumer of the fuel.
There are two elements to China’s influence on seaborne coal markets in Asia; robust demand as the Chinese economy rebounds from the coronavirus pandemic; and Beijing’s policy choice to ban imports from Australia…Full Story