Dumb ass ChiCons just benefitted the shitskins with their antics.
India snags cheap Australian coal sitting at Chinese ports - MINING.COM
China’s Coal Futures Hit Record as Exchange Tries to Cool Rally With Fee Hike
Coal bulker terminal at the port of Qinhuangdao. (Copyright Greenpeace | Liu Feiyue)
India is buying Australian coal that’s been stranded inside China for months, according to people who have made the purchases, spotlighting how geopolitics is complicating Beijing’s battle against an energy supply crisis.
The fuel is being bought at a $12 to $15 a ton discount to fresh shipments from Australia and is some of the cheapest thermal coal relative to its quality on the market, said the people, who asked not to be identified because they aren’t authorized to speak with the press. Indian cement makers and sponge iron plants are among buyers that are using the supplies to bridge domestic shortfalls.
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The development reflects the extent to which China-Australia relations have soured: China is battling a crippling energy crunch that’s set to get worse as winter sets in, and yet it won’t touch coal from Australia due to a geopolitical squabble. Indian firms have bought nearly 2 million tons of Australian thermal coal that has been sitting in warehouses at the Chinese ports, the people said.
Stockpiles of the fuel at Indian coal-fired power plants, which produce nearly 70% of the country’s electricity, are near the lowest levels in four years and have prompted the state-owned miner Coal India Ltd. to direct more supplies to domestic utilities. That’s reduced shipments to other consumers, including aluminum makers, cement companies and steel mills.
Prices for Australia’s Newcastle coal, considered an Asian benchmark, have surged close to a record.
The discord between China, the world’s largest consumer and importer of coal, and Australia had stranded as many as 70 ships and 1,400 seafarers waiting to discharge their cargoes outside Chinese ports in January. Most vessels subsequently discharged their cargoes or diverted to other destinations.
(By Rajesh Kumar Singh, with assistance from Dan Murtaugh)
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India snags cheap Australian coal sitting at Chinese ports - MINING.COM
China’s Coal Futures Hit Record as Exchange Tries to Cool Rally With Fee Hike
Coal bulker terminal at the port of Qinhuangdao. (Copyright Greenpeace | Liu Feiyue)
India is buying Australian coal that’s been stranded inside China for months, according to people who have made the purchases, spotlighting how geopolitics is complicating Beijing’s battle against an energy supply crisis.
The fuel is being bought at a $12 to $15 a ton discount to fresh shipments from Australia and is some of the cheapest thermal coal relative to its quality on the market, said the people, who asked not to be identified because they aren’t authorized to speak with the press. Indian cement makers and sponge iron plants are among buyers that are using the supplies to bridge domestic shortfalls.
Sign Up for the Energy Digest
Sign Up
The development reflects the extent to which China-Australia relations have soured: China is battling a crippling energy crunch that’s set to get worse as winter sets in, and yet it won’t touch coal from Australia due to a geopolitical squabble. Indian firms have bought nearly 2 million tons of Australian thermal coal that has been sitting in warehouses at the Chinese ports, the people said.
Stockpiles of the fuel at Indian coal-fired power plants, which produce nearly 70% of the country’s electricity, are near the lowest levels in four years and have prompted the state-owned miner Coal India Ltd. to direct more supplies to domestic utilities. That’s reduced shipments to other consumers, including aluminum makers, cement companies and steel mills.
Prices for Australia’s Newcastle coal, considered an Asian benchmark, have surged close to a record.
The discord between China, the world’s largest consumer and importer of coal, and Australia had stranded as many as 70 ships and 1,400 seafarers waiting to discharge their cargoes outside Chinese ports in January. Most vessels subsequently discharged their cargoes or diverted to other destinations.
(By Rajesh Kumar Singh, with assistance from Dan Murtaugh)
Share
China’s coal miners told to produce even if they’re over quotas
The country controls coal production under a quota system that caps annual output of mines in order to manage supply.
Bloomberg News | October 1, 2021 | 9:37 am
Russell: China’s coal crunch is self-inflicted, costly and temporary
China is paying a high price for policies that curbed domestic coal output and imports.
Reuters | October 1, 2021 | 8:14 am
Home: Scarcity keeps tin strapped to the roller coaster
Some alleviation of global supply-chain stresses is set to come in the unlikely form of China's power crunch.
Reuters | October 1, 2021 | 7:58 am
Czechs want Polish deal over disputed coal mine to last longer term, minister says
Talks to end the dispute over the Turow mine got stuck on Thursday over the length the agreement should be valid,
Reuters | October 1, 2021 | 7:45 am
