Moving on to international news, Australian thermal coal exports are under pressure with China’s import restrictions spreading.
Following last months reports that customs officials were holding up coal imports “indefinitely”, Platts, the respected industry newsagency, has reported that the restrictions had spread to the southern port of Fangcheng.
The Platts report says radioactivity on Australian coal was being tested by customs officials which could see coal taking three months to clear customs.
An Australian-based trader told Platts that “Australian producers are looking to sell their cargoes, but there’s not a lot of business, so prices will likely further soften if this persists.”