AUGAF
  • Home
  • Politics
  • Business
  • National
  • News
  • Finance
  • Technology
  • Sports
  • International
  • CommoditiesNew
  • Contact
No Result
View All Result
  • Home
  • Politics
  • Business
  • National
  • News
  • Finance
  • Technology
  • Sports
  • International
  • CommoditiesNew
  • Contact
No Result
View All Result
AUGAF
No Result
View All Result
Home Business

China to grant port clearance to stranded Australian coals: sources

admin-augaf by admin-augaf
October 29, 2021
in Business, International
Reading Time: 3 mins read
0
China to grant port clearance to stranded Australian coals: sources

China to grant port clearance to stranded Australian coals: sources

Share on FacebookShare on TwitterWhatsapp

Beijing October 29 2021: Chinese steel mills in various parts of the country have received verbal notices from regional customs for port clearance of stranded Australian coals, several sources familiar with the matter told S&P Global Platts Oct. 28.

The move could ease the tight domestic supply of coal, while lowering prices within a reasonable range, market participants said.


A L S O || R E A D

Oil hits two-week low on Iran talks resuming, U.S. crude build


Several million metric tons of Australians coal has been waiting for clearance at China’s ports after the country imposed an unofficial ban on the Australian imports in October 2020.

The clearance would be granted at various ports in Northeast China, North China Plain, Zhejiang and Guangdong, market sources said. The regional customs offices were not immediately available for comment.

Three steel mills in Northeast and east China said they received a verbal notice from the respective customs departments in the morning Oct. 28. “Australian coals would be released today or tomorrow depending how fast they [customs] process it,” one of the end-user said.

Meanwhile, some other end-users said that only vessels with records of submitting port clearance applications prior to October 2020 would be released. Those without prior applications would be pending for discussion.


A L S O || R E A D

HRH Prince Charles appreciated Pakistan’s support and facilitation in evacuating its British nationals from Afghanistan


Several end-users across China confirmed the possible customs clearance of their cargos at the ports, according to a Chinese trader.

Sources surveyed at Jingtang — one of China’s major coking coal ports — said that the situation was improving but the details were still unclear.

“There are still more than 1 million mt of coking coal waiting for clearance at Jingtang port, and we are still waiting for notifications from customs,” a trader based in North China said.

Coking coal market impact
Market participants had mixed views on the impact of port clearance, with some saying it would hurt prices as more tonnage would be released, while other adopting a wait-and-watch approach amid the tight domestic supply.

“There are some 6 million mt of coals waiting to enter the market that could help ease the supply tightness”, an international trader said, adding that new bookings may be a viable next step, given the market expectation for higher Australian met coal supply from late-fourth quarter onward.

Australia was a major supplier of seaborne met coal to China before the unofficial import restriction, accounting for an average of 46% of the total Chinese imports between 2015-2020. The overall Chinese import volume declined 40% to 35 million mt in the first nine months of 2021, and comprised of inflows mainly from the US, Russia, Canada, and other origins, based on the official data.

“It is a positive move that feels like light at the end of the tunnel to the Chinese steelmakers, especially in light of such a tight domestic market at the moment,” an end-user in North China said.

Platts assessed PLV CFR China at $615/mt CFR China Oct. 27, up 203% between January and end-October.

Tags: BUSINESSfinance
admin-augaf

admin-augaf

Related Posts

BYD’s Supply Chain Financing Masks Ballooning Debt, Research Firm Says
Business

BYD Beats Tesla in Europe for the First Time With 169% Surge

May 22, 2025
Saudi Arabia Eyes $600 Billion Investment In Petrochemical Sector
Business

Oil Prices Fall More Than 1% on Potential Further Increase to OPEC+ Output

May 22, 2025
Pakistan Witness 10% Increase In Companies Registration
Business

SECP Warns Against Online Investment Platforms Including Interactive Broker

May 22, 2025
Fair Global Consult Fair Global Consult Fair Global Consult
ADVERTISEMENT

Recent News

BYD’s Supply Chain Financing Masks Ballooning Debt, Research Firm Says

BYD Beats Tesla in Europe for the First Time With 169% Surge

May 22, 2025
Saudi Arabia Eyes $600 Billion Investment In Petrochemical Sector

Oil Prices Fall More Than 1% on Potential Further Increase to OPEC+ Output

May 22, 2025
Pakistan Witness 10% Increase In Companies Registration

SECP Warns Against Online Investment Platforms Including Interactive Broker

May 22, 2025
Bitcoin

Bitcoin Rally Takes Largest Token Past $111,000 for First Time

May 22, 2025
US Carbon Emissions To Decline Due To Shift In Power Generation Sources

Pakistan Lower House Passes Off the Grid Captive Power Plants Levy Bill

May 22, 2025

Popular News

  • NSS

    President Prohibit National Savings For Changing Rates on Existing Certificates Retrospectively

    0 shares
    Share 0 Tweet 0
  • Pakistan Rupee Appreciate against Dollar in Interbank as IMF Confirmed Board Review Date

    0 shares
    Share 0 Tweet 0
  • Pakistan Rupee Fall After 13 Days of Successive Gains against Dollar on Lower Remittances and Strengthening of US Dollar

    0 shares
    Share 0 Tweet 0
  • Petrol Prices in Pakistan to Return to July 2023 Levels

    0 shares
    Share 0 Tweet 0
  • Pakistan Central Bank Issued Show Cause Notice to Eight Banks Over Currency Speculation

    0 shares
    Share 0 Tweet 0

Categories

  • Budget
  • Business
  • Culture
  • Finance
  • International
  • National
  • News
  • Politics
  • PTI
  • Sports
  • Technology
AUGAF Logo

Follow us on social media:

Recent News

  • BYD Beats Tesla in Europe for the First Time With 169% Surge
  • Oil Prices Fall More Than 1% on Potential Further Increase to OPEC+ Output
  • SECP Warns Against Online Investment Platforms Including Interactive Broker

Category

  • Budget
  • Business
  • Culture
  • Finance
  • International
  • National
  • News
  • Politics
  • PTI
  • Sports
  • Technology

Recent News

BYD’s Supply Chain Financing Masks Ballooning Debt, Research Firm Says

BYD Beats Tesla in Europe for the First Time With 169% Surge

May 22, 2025
Saudi Arabia Eyes $600 Billion Investment In Petrochemical Sector

Oil Prices Fall More Than 1% on Potential Further Increase to OPEC+ Output

May 22, 2025
  • Home
  • Politics
  • News
  • Business
  • National
  • Finance
  • Technology
  • International

© 2021 AUGAF.

No Result
View All Result
  • Home
  • Politics
  • Business
  • National
  • News
  • Finance
  • Technology
  • Sports
  • International
  • Commodities
  • Contact

© 2021 AUGAF.