Due to freezing cities Chinese authorities are having to back down on curbing pollution thru reduced coal usage. Last month, Chinese imports of iron ore increased along with Met coal. The Chinese mills are looking for higher spect coal, ie less pollution, in an attempt to satisfy the authorities.
Ships leaving LYT for India [Tata] are taking around 50,000tons with a top up at Gladstone. Ships for Japan, South Korea and China are loaded with up to 65,000tons depending on the individual ship. Its looking more like only 6 ships this quarter.
I believe prices are going to stay high short term and any significant weather forecasted for Queensland this summer will spike prices once again towards $300/ton.
Due to freezing cities Chinese authorities are having to back...
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