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China considering a partial end to Australia coal ban

04 Jan 2023

 

The recovery in AUD/USD is gathering further traction on reports that China is considering a partial end to its ban on imports of Australian coal.

No further details are provided about the same.

Meanwhile, AUD/USD briefly recaptured the 0.6800 barrier, popping up to 0.6817 on the above report before reversing to 0.6792, where it now wavers. The pair is still up 0.86% on the day

 

China upgrades coal transport channel capable of handling over 100 mln tonnes annually

 

https://english.news.cn/20230104/020b8248c8da4c18bf9e1f39d7cd8608/c.html

The total volume of freight carried on the Watang-Rizhao Railway exceeded 103 million tonnes in 2022, which means China has upgraded another energy transport corridor capable of handling over 100 million tonnes of coal annually, according to China Railway Taiyuan Bureau Group Co., Ltd.

The railway, which begins in Watang Township in north China's Shanxi Province and ends at Rizhao Port in east China's Shandong Province, connects China's seven major railway routes. It is a heavy-haul coal transportation channel connecting the main coal-producing regions in China.

With joint efforts to improve coal transport efficiency, the Watang-Rizhao Railway saw its annual transport volume increase steadily from 73.9 million tonnes in 2020 to over 100 million tonnes last year.

The channel is also a major route for China's west-to-east coal transportation, ensuring the country's energy consumption demand is met.