Reuben Adams August 26, 2021 China now paying ALL TIME HIGH...

Reuben Adams August 26, 2021
China now paying ALL TIME HIGH prices for coking coal, thanks to Aussie [email protected]↩️
Is this what winning a trade war looks like?
Premium Low Vol CFR China – a benchmark for Chinese coking coal imports — hit an all-time high of $US410/t Wednesday.
That’s a 248% increase over the past year.
The root cause of the price rally is the unofficial ban on Australian coal since late last year, compounded by the closure of the border with Mongolia on Monday...

China's unofficial import ban on Australian coal in late 2020 has added to the supply tightness, with imports from the US, Canada and Russia being unable to replace the Australian volume and quality. This has been compounded by the closure of the border with Mongolia on Aug. 23. Australia and Mongolia have been China's top sources of imported coking coal for many years.
"The [China/Mongolian] border could be closed for two weeks due to the new COVID-19 cases, and it does not help the current supply tightness in the market," a domestic trader said...
https://www.spglobal.com/platts/en/...-decade-high-in-china-amid-domestic-tightness