have suggested that China’s National Development and Reform Commission held talks about potentially allowing a few Chinese companies to resume coal trade with Australia, including China’s biggest state-owned steel maker, Baowu.
In a reference to reports that China would allow only some of its steel makers to resume purchases of Australian coal, Mr Ziems said the identity of those potential customers was “not only the officially approved parties”. “Coronado expects Australian met coal imports to China to return in 2023 and displace lower quality and higher cost Chinese domestic or US met coal production, particularly to the Chinese steel makers in southern regions where a significant sea freight advantage for Australian met coal exists.
Coronado received an average of $US265.80 a tonne for its coal last year, which was almost double the received price from the previous year.