Beijing’s sudden decision to drastically curb imports of thermal coal into the country’s ports presents a golden opportunity to Indian coal buyers to pick up large volumes of Australian power station fuel at discounted prices, according to a S&P Global Platts analysis.
With little fanfare or publicity April 13, Beijing quietly implemented a new round of import restrictions on seaborne-traded cargoes of thermal coal, including more stringent customs checks and some outright bans on ships discharging at certain Chinese ports.