China resumes buying Australian coal

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cassowary
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China resumes buying Australian coal

Post by cassowary » Wed Oct 06, 2021 8:12 am

Is this true neverfail? According to Indian news, Xi has gone back to buying Australian coal, which they described as Xi kneeling before Scott Morrison. As I said, the Indians have a flair for exaggeration and sensationalism that our CNA lacks. Singaporeans are competent but boring.

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neverfail
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Re: China resumes buying Australian coal

Post by neverfail » Wed Oct 06, 2021 11:14 pm

Nothing in the news about this out here yet Cass; though there is this Reuters report that in light of their energy crisis their government has ordered the release of bonded Australian coal already in China.

https://www.reuters.com/world/asia-paci ... 021-10-05/

It does not signal the resumption of our coal trade with China yet might still indicate a small inital step in that direction.

One could describe it as a chink in Xi Jinpeng's armour.

:?: :?: :o :oops:

Um, no Cass! A chink in his armour is an old saying and it does not imply :lol: any snide reference to any Chinese knight of the Middle Ages. :)

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cassowary
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Re: China resumes buying Australian coal

Post by cassowary » Thu Oct 07, 2021 8:42 am

neverfail wrote:
Wed Oct 06, 2021 11:14 pm
Nothing in the news about this out here yet Cass; though there is this Reuters report that in light of their energy crisis their government has ordered the release of bonded Australian coal already in China.

https://www.reuters.com/world/asia-paci ... 021-10-05/

It does not signal the resumption of our coal trade with China yet might still indicate a small inital step in that direction.

One could describe it as a chink in Xi Jinpeng's armour.

:?: :?: :o :oops:

Um, no Cass! A chink in his armour is an old saying and it does not imply :lol: any snide reference to any Chinese knight of the Middle Ages. :)
Haha
The Imp :D

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cassowary
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Re: China resumes buying Australian coal

Post by cassowary » Fri Oct 08, 2021 4:34 am

neverfail wrote:
Wed Oct 06, 2021 11:14 pm
Nothing in the news about this out here yet Cass; though there is this Reuters report that in light of their energy crisis their government has ordered the release of bonded Australian coal already in China.

https://www.reuters.com/world/asia-paci ... 021-10-05/

It does not signal the resumption of our coal trade with China yet might still indicate a small inital step in that direction.

Oh I see. So that's what Indians news was talking about. Coal that they refused to unload for months just because it came from Australia. Well it is still Australian coal import for the first time in how long?

It seems that Australia was not hurt at all by China's trade war. The cost of coal as well as LNG and other types of energy has gone up. So all Australia has to do is to sell its coal at higher prices in other markets. China meanwhile is buying energy elsewhere. So the total demand is still the same. Its time for Australia to diversify its customers and don't rely on China.
The Imp :D

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Re: China resumes buying Australian coal

Post by neverfail » Fri Oct 08, 2021 6:03 pm

cassowary wrote:
Fri Oct 08, 2021 4:34 am
neverfail wrote:
Wed Oct 06, 2021 11:14 pm
Nothing in the news about this out here yet Cass; though there is this Reuters report that in light of their energy crisis their government has ordered the release of bonded Australian coal already in China.

https://www.reuters.com/world/asia-paci ... 021-10-05/

It does not signal the resumption of our coal trade with China yet might still indicate a small inital step in that direction.
Oh I see. So that's what Indians news was talking about. Coal that they refused to unload for months just because it came from Australia. Well it is still Australian coal import for the first time in how long?
For the best part of a year Cass - though my memory may be defective. It seems that long.

I know that the PRC brought in embargos on some other Australian products before they got around to coal.
https://www.aspistrategist.org.au/beiji ... ing-china/

Every million tonnes of coal has recently been costing China’s steel mills more than US$400 million, compared with around US$250 million paid by steel mills everywhere else. The difference is entirely explained by China’s embargo on Australian coal.

So far we have only spoken about (soft) thermal coal and how the ban on imports on this commodity is causing shortfalls in electric power production in China. But it seems that the PRC has also banned imports of the (harder and globally scarcer) coking coal as well: and this has significently driven up costs in their ferrous metals producing and heavy engineering industries as well.
It seems that Australia was not hurt at all by China's trade war. The cost of coal as well as LNG and other types of energy has gone up. So all Australia has to do is to sell its coal at higher prices in other markets. China meanwhile is buying energy elsewhere. So the total demand is still the same. Its time for Australia to diversify its customers and don't rely on China.
No, it does not seem to have hurt us. Out here we are anticipating a record trade SURPLUS for this year while (despite repeat Covid lockdowns in our major population centres) our unemployment rate is now at a low not seen in decades.

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Re: China resumes buying Australian coal

Post by cassowary » Sat Oct 09, 2021 12:27 am

neverfail wrote:
Fri Oct 08, 2021 6:03 pm
cassowary wrote:
Fri Oct 08, 2021 4:34 am
neverfail wrote:
Wed Oct 06, 2021 11:14 pm
Nothing in the news about this out here yet Cass; though there is this Reuters report that in light of their energy crisis their government has ordered the release of bonded Australian coal already in China.

https://www.reuters.com/world/asia-paci ... 021-10-05/

It does not signal the resumption of our coal trade with China yet might still indicate a small inital step in that direction.
Oh I see. So that's what Indians news was talking about. Coal that they refused to unload for months just because it came from Australia. Well it is still Australian coal import for the first time in how long?
For the best part of a year Cass - though my memory may be defective. It seems that long.

I know that the PRC brought in embargos on some other Australian products before they got around to coal.
https://www.aspistrategist.org.au/beiji ... ing-china/

Every million tonnes of coal has recently been costing China’s steel mills more than US$400 million, compared with around US$250 million paid by steel mills everywhere else. The difference is entirely explained by China’s embargo on Australian coal.

So far we have only spoken about (soft) thermal coal and how the ban on imports on this commodity is causing shortfalls in electric power production in China. But it seems that the PRC has also banned imports of the (harder and globally scarcer) coking coal as well: and this has significently driven up costs in their ferrous metals producing and heavy engineering industries as well.
It seems that Australia was not hurt at all by China's trade war. The cost of coal as well as LNG and other types of energy has gone up. So all Australia has to do is to sell its coal at higher prices in other markets. China meanwhile is buying energy elsewhere. So the total demand is still the same. Its time for Australia to diversify its customers and don't rely on China.
No, it does not seem to have hurt us. Out here we are anticipating a record trade SURPLUS for this year while (despite repeat Covid lockdowns in our major population centres) our unemployment rate is now at a low not seen in decades.
It seems to me that Xi does not understand economics. Thus he hurt his own country without hurting Australia.

Xi failed to understand that the markets are interconnected globally. When China switched to buying coal from other countries, the demand is still the same. Thus the price of coal to Australian miners is not affected.

All the Australians have to do is to sell to different buyers. I believe India took up much of that production that China refused to buy.

But China ended up buying at more expensive prices and of lower calorific value. This drove up cost of producing electricity.

Since Xi controls the selling price of electricity companies, they simply cut production or go bust. Serves them right. He threw a boomerang at Australia and hit himself.
The Imp :D

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cassowary
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Re: China resumes buying Australian coal

Post by cassowary » Sat Oct 09, 2021 1:50 am

cassowary wrote:
Sat Oct 09, 2021 12:27 am
neverfail wrote:
Fri Oct 08, 2021 6:03 pm
cassowary wrote:
Fri Oct 08, 2021 4:34 am
neverfail wrote:
Wed Oct 06, 2021 11:14 pm
Nothing in the news about this out here yet Cass; though there is this Reuters report that in light of their energy crisis their government has ordered the release of bonded Australian coal already in China.

https://www.reuters.com/world/asia-paci ... 021-10-05/

It does not signal the resumption of our coal trade with China yet might still indicate a small inital step in that direction.
Oh I see. So that's what Indians news was talking about. Coal that they refused to unload for months just because it came from Australia. Well it is still Australian coal import for the first time in how long?
For the best part of a year Cass - though my memory may be defective. It seems that long.

I know that the PRC brought in embargos on some other Australian products before they got around to coal.
https://www.aspistrategist.org.au/beiji ... ing-china/

Every million tonnes of coal has recently been costing China’s steel mills more than US$400 million, compared with around US$250 million paid by steel mills everywhere else. The difference is entirely explained by China’s embargo on Australian coal.

So far we have only spoken about (soft) thermal coal and how the ban on imports on this commodity is causing shortfalls in electric power production in China. But it seems that the PRC has also banned imports of the (harder and globally scarcer) coking coal as well: and this has significently driven up costs in their ferrous metals producing and heavy engineering industries as well.
It seems that Australia was not hurt at all by China's trade war. The cost of coal as well as LNG and other types of energy has gone up. So all Australia has to do is to sell its coal at higher prices in other markets. China meanwhile is buying energy elsewhere. So the total demand is still the same. Its time for Australia to diversify its customers and don't rely on China.
No, it does not seem to have hurt us. Out here we are anticipating a record trade SURPLUS for this year while (despite repeat Covid lockdowns in our major population centres) our unemployment rate is now at a low not seen in decades.
It seems to me that Xi does not understand economics. Thus he hurt his own country without hurting Australia.

Xi failed to understand that the markets are interconnected globally. When China switched to buying coal from other countries, the demand is still the same. Thus the price of coal to Australian miners is not affected.

All the Australians have to do is to sell to different buyers. I believe India took up much of that production that China refused to buy.

But China ended up buying at more expensive prices and of lower calorific value. This drove up cost of producing electricity.

Since Xi controls the selling price of electricity companies, they simply cut production or go bust. Serves them right. He threw a boomerang at Australia and hit himself.
The Imp :D

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Doc
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Re: China resumes buying Australian coal

Post by Doc » Sat Oct 09, 2021 7:28 am

cassowary wrote:
Sat Oct 09, 2021 1:50 am
cassowary wrote:
Sat Oct 09, 2021 12:27 am
neverfail wrote:
Fri Oct 08, 2021 6:03 pm
cassowary wrote:
Fri Oct 08, 2021 4:34 am
neverfail wrote:
Wed Oct 06, 2021 11:14 pm
Nothing in the news about this out here yet Cass; though there is this Reuters report that in light of their energy crisis their government has ordered the release of bonded Australian coal already in China.

https://www.reuters.com/world/asia-paci ... 021-10-05/

It does not signal the resumption of our coal trade with China yet might still indicate a small inital step in that direction.
Oh I see. So that's what Indians news was talking about. Coal that they refused to unload for months just because it came from Australia. Well it is still Australian coal import for the first time in how long?
For the best part of a year Cass - though my memory may be defective. It seems that long.

I know that the PRC brought in embargos on some other Australian products before they got around to coal.
https://www.aspistrategist.org.au/beiji ... ing-china/

Every million tonnes of coal has recently been costing China’s steel mills more than US$400 million, compared with around US$250 million paid by steel mills everywhere else. The difference is entirely explained by China’s embargo on Australian coal.

So far we have only spoken about (soft) thermal coal and how the ban on imports on this commodity is causing shortfalls in electric power production in China. But it seems that the PRC has also banned imports of the (harder and globally scarcer) coking coal as well: and this has significently driven up costs in their ferrous metals producing and heavy engineering industries as well.
It seems that Australia was not hurt at all by China's trade war. The cost of coal as well as LNG and other types of energy has gone up. So all Australia has to do is to sell its coal at higher prices in other markets. China meanwhile is buying energy elsewhere. So the total demand is still the same. Its time for Australia to diversify its customers and don't rely on China.
No, it does not seem to have hurt us. Out here we are anticipating a record trade SURPLUS for this year while (despite repeat Covid lockdowns in our major population centres) our unemployment rate is now at a low not seen in decades.
It seems to me that Xi does not understand economics. Thus he hurt his own country without hurting Australia.

Xi failed to understand that the markets are interconnected globally. When China switched to buying coal from other countries, the demand is still the same. Thus the price of coal to Australian miners is not affected.

All the Australians have to do is to sell to different buyers. I believe India took up much of that production that China refused to buy.

But China ended up buying at more expensive prices and of lower calorific value. This drove up cost of producing electricity.

Since Xi controls the selling price of electricity companies, they simply cut production or go bust. Serves them right. He threw a boomerang at Australia and hit himself.
It maybe a long shot, but I think it is possible that the XiCP has realized that it is facing demographic collapse. Chinese have realized(at least the perception) that they have security in old age and don't need lots of children to take care of them when they are old. So the XiCP has decided that it needs to take away that old age security. Thus people will believe they need more children.
“"I fancied myself as some kind of god....It is a sort of disease when you consider yourself some kind of god, the creator of everything, but I feel comfortable about it now since I began to live it out.” -- George Soros

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Sertorio
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Re: China resumes buying Australian coal

Post by Sertorio » Sat Oct 09, 2021 9:51 am

Rather than arguing I prefer to invite you all to read the latest David Goldman's article:
China marches on towards Fourth Industrial Revolution
Pundit predictions of China's demise are the latest self-consoling illusions of a lazy elite who can't see the AI writing on the wall

By DAVID P. GOLDMAN
OCTOBER 8, 2021

https://asiatimes.com/2021/10/china-mar ... evolution/
I guess most of you respect Goldman's intellect, so maybe you will spare a moment to think about what he is talking about...

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Milo
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Re: China resumes buying Australian coal

Post by Milo » Sat Oct 09, 2021 11:52 am

Sertorio wrote:
Sat Oct 09, 2021 9:51 am
Rather than arguing I prefer to invite you all to read the latest David Goldman's article:
China marches on towards Fourth Industrial Revolution
Pundit predictions of China's demise are the latest self-consoling illusions of a lazy elite who can't see the AI writing on the wall

By DAVID P. GOLDMAN
OCTOBER 8, 2021

https://asiatimes.com/2021/10/china-mar ... evolution/
I guess most of you respect Goldman's intellect, so maybe you will spare a moment to think about what he is talking about...
That China is ahead in implementing many of these things is no surprise, dictatorships don’t have to deal with safety or public opinion, until they have a truly Chernobyl moment (China hasn’t had that for decades, recent media hype saying so is just the quest for eyeballs).

Goldman writes those pieces because he thinks China success will scare the West into repealing same sex marriage. I respect his intellect mostly in the areas of music and history, he has been drastically off when he wrote about other things.

The question isn’t whether China will continue to advance technologically, obviously they will. The question is whether their political system will advance, without that, they will always underutilize their human potential, the only thing that really matters.

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