Aussie Coal and Copper5 Nov 2020 16:11
The exports of Coal and Copper to China were profitable because of the relatively short distances and the economies of scale with such a large buyer. Now they are !%^$ed.
Australian exporters scramble as fears of more China trade bans grow. After reports that China would implement curbs on exports from sectors in Australia worth more than $6bn, The Australian reports that Chinese state media appear to have confirmed the rumours. The Chinese government had initially denied the ban, saying its importers voluntarily cut back on Australian goods. But the Global Times, a state-controlled tabloid, made a reference to the ban as fact in a report yesterday. Such a ban would apply to Australian wine, lobster, sugar, coal, timber, barley and copper from Friday onwards.