Bloomberg carried the report citing unnamed people familiar:
- Chinese power stations and steel mills have been verbally told to immediately stop using Australian coal
- Ports have also been told not to offload Australian coa
- It isn’t clear when the halt might end or how it might affect long-term contracts that are already in place
A ban on coal would be a significant escalation in tensions between the two countries an would be a negative for AUD.
The latest on this is that the Australian Trade Minister Birmingham is seeking clarification from China.