China's Dalian Customs Bans Australian Coal Imports Indefinitely - Source

China's Dalian Customs Bans Australian Coal Imports Indefinitely - Source

EXCLUSIVE-CHINA'S DALIAN CUSTOMS BANS AUSTRALIAN COAL IMPORTS INDEFINITELY - SOURCE#China #Australia #Coal
— Global Markets Forum (@ReutersGMF) February 21, 2019

Added at 11:40pm

Dalian Port caps 2019 overall coal imports at 12m tons
- RTRS
— DailyFX Team Live (@DailyFXTeam) February 21, 2019

Added at 11:54pm

China's Dalian port bans Australian coal imports, sets 2019 quota - source

From uk.reuters.com

Customs at China’s northern Dalian port has banned imports of Australian coal and will cap overall coal imports for 2019 through its harbours at 12 million tonnes, an official at Dalian Port Group told Reuters on Thursday. The indefinite ban on imports from top supplier Australia, effective since the start of February, comes as major ports elsewhere in China prolong clearing times for Australian coal to at least 40 days. Five harbours overseen by Dalian customs - Dalian, Bayuquan, Panjin, Dandong and Beiliang - will not allow Australian coal to clear through customs, said the official. Coal imports from Russia and ... (full story)

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Aussi

Feb 20, 2019 11:56pm

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the government is always knocking china down every week , WHAT DO YOU EXPECT China was always going to step on us

kingleeny

Feb 20, 2019 11:33pm

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if this is true.....your literally putting Australians coal trade out of business...this is the biggest news i heard that could physically cripple Australia...wow

cdsaa

Feb 21, 2019 1:13am

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Quoting newbegger

Disliked

This is bad move and will be reversed very soon. I am buying Aud as this is easy money in long run. China is not a customer for Aud, china is the seller of cheap stuff. Expect tariffs on chinese products and suddenly china will change policy. And my Aud longs make bank

Ignored

You made a very good point.. This coal ban, is not the currency dictator. It can only influence so much. China need to sell its products with every country. on Imports, it wont make much damage.
Aus on other hand, coal is not the primary GDP driver for Australia.

2dollardog

Feb 20, 2019 11:37pm

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Wow. Horrible for Aus

PaulDaemon

Feb 21, 2019 1:05am

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Quoting newbegger

Disliked

This is bad move and will be reversed very soon. I am buying Aud as this is easy money in long run. China is not a customer for Aud, china is the seller of cheap stuff. Expect tariffs on chinese products and suddenly china will change policy. And my Aud longs make bank

Ignored

Australia is one of the biggest commodity sellers to china what are you talking about?

realjumper

Feb 21, 2019 12:16am

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Quoting Aussi

Disliked

the government is always knocking china down every week , WHAT DO YOU EXPECT China was always going to step on us

Ignored

Exactly. Just last week it was announced that USA had overtaken China as the biggest investor in Australia and the Aussie Govt sidles up to USA at every turn. Does the Aussie govt not expect to pay a price for that? Well...they just did!!

Aussi

Feb 21, 2019 2:44am

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Quoting PaulDaemon

Disliked

1st rule in business. Never trust a Chinaman. Bad news for all the Chinese that bought houses in Sydney and Melbourne they will be selling back to Aussies at half the value they paid for it lol.

Ignored

serves them right Paul

Aussi

Feb 21, 2019 4:44am

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Quoting Henry2501

Disliked

Here's why- they getting their coal from south africa https://www.thesouthafrican.com/sout...-eskom-export/ Thats why here in SA we have load shedding. Power cuts because we don't have enough coal for eskom our electricity company. The only one.

Ignored

thanks mate , i feel sorry for you kindest regards from dave

newbegger

Feb 21, 2019 12:54am

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This is bad move and will be reversed very soon. I am buying Aud as this is easy money in long run.

China is not a customer for Aud, china is the seller of cheap stuff. Expect tariffs on chinese products and suddenly china will change policy. And my Aud longs make bank

kingleeny

Feb 21, 2019 12:19am

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Quoting prophetfx

Disliked

Beijing is upset over Canberra's ban on Chinese telecommunications group Huawei, and the Morrison government's stance on cybersecurity threats, they say.

Ignored

Since they can't take it out on USA....they take it out against Austrailia....I would not be surprised if Trump pulls off a coal export to China trade...lol kill smaller free country for a bigger free country.

kingleeny

Feb 21, 2019 1:01am

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Quoting newbegger

Disliked

This is bad move and will be reversed very soon. I am buying Aud as this is easy money in long run. China is not a customer for Aud, china is the seller of cheap stuff. Expect tariffs on chinese products and suddenly china will change policy. And my Aud longs make bank

Ignored

are you really serious??? listen im not a fan of china policy....they dont negotiate...only one they are willing to do is with usa because they are the only one that could cripple them.

kingleeny

Feb 21, 2019 2:23am

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Quoting newbegger

Disliked

{quote} Expect this, happens every day in trading. Rumors I was short audusd so this rumor suited me well. Now I am long from low prices as I expect higher prices. News been pretty good for Australia, except falling real estate.

Ignored

falling real estate is the root of all financial crisis...unmovable assets borrowings that are larger then the price of the asset you own...like paying back money on something that is better off dead.

barkie

Feb 21, 2019 2:34am

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Quoting prophetfx

Disliked

it looks like this is more of provocation and reminder than a real ban. agree with me?

Ignored

no, it's a real ban.

What a great idea btw to pick a fight with the next and only superpower. Better be a vassal in stead of becoming a kind of Cuba.

Fush n Chups

Feb 21, 2019 12:15am

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Looks like Aussie will '69' themselves.... Kiwi will probably choke on the ole sav' and go down on its knees too!

Im betting 69 flat my Sydney Saturday morning and Kiwi 66 flat!

Ride the wave

Henry2501

Feb 21, 2019 4:37am

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Quoting prophetfx

Disliked

really really frustrating and sad politics going on in world, their own citizens dont have electricity and they want to export coal? why the fuck they wanna do that?

Ignored

This is the joys of South Africa. A corrupt government.

Luckily i had a Good Sell in on the AUDJPY
Took profit now going back long again up to 79.660.
Buy the AUDJPY from here again. Was just a small market. Might take acouple of days to get there.

Brownie143

Feb 21, 2019 2:30am

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Quoting prophetfx

Disliked

{quote} yes true, china is more seller than buyer to ausi economy

Ignored

Really?! How about China being the biggest export partner for Australia with almost 30% of its exports going to China, while Australia holds just a tiny percentage of Chinese exports

PaulDaemon

Feb 21, 2019 12:40am

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1st rule in business. Never trust a Chinaman.

Bad news for all the Chinese that bought houses in Sydney and Melbourne they will be selling back to Aussies at half the value they paid for it lol.

mae4206

Feb 21, 2019 12:07am

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coal much more bigger than job, who is that idiot selling down 100pips AU😂

cdsaa

Feb 21, 2019 1:41am

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China MOFCOM Spokesman Gao: No Information About Any China Ban On Coal Imports

so that is manipulation of market news.

Fush n Chups

Feb 21, 2019 12:17am

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Quoting prophetfx

Disliked

Beijing is upset over Canberra's ban on Chinese telecommunications group Huawei, and the Morrison government's stance on cybersecurity threats, they say.

Ignored

Ditto with Kiwi Govt... allegedly

Henry2501

Feb 21, 2019 4:55am

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Quoting Aussi

Disliked

{quote} thanks mate , i feel sorry for you kindest regards from dave

Ignored

Thanks mate. We try our best to stay positive and move forward.

prophetfx

Feb 21, 2019 1:00am

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Quoting newbegger

Disliked

This is bad move and will be reversed very soon. I am buying Aud as this is easy money in long run. China is not a customer for Aud, china is the seller of cheap stuff. Expect tariffs on chinese products and suddenly china will change policy. And my Aud longs make bank

Ignored

yes true, china is more seller than buyer to ausi economy

Aussi

Feb 21, 2019 12:10am

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Quoting kingleeny

Disliked

{quote} hi Aussi...apparently this has been in the traders for the better part of this month...why this hitting across now?? was this in any news in Australia prior to this?

Ignored

only news was cyber attack and they blamed china mate

newbegger

Feb 21, 2019 1:58am

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Quoting PaulDaemon

Disliked

{quote} Australia is one of the biggest commodity sellers to china what are you talking about?

Ignored

Yes, Exactly. Where does Australian mining companies buy their heavy mining rigs from?

newbegger

Feb 21, 2019 2:05am

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Quoting cdsaa

Disliked

China MOFCOM Spokesman Gao: No Information About Any China Ban On Coal Imports so that is manipulation of market news.

Ignored

Expect this, happens every day in trading. Rumours

I was short audusd so this rumor suited me well. Now I am long from low prices as I expect higher prices. News been pretty good for Australia, except falling real estate.

kingleeny

Feb 21, 2019 12:05am

Permalink

Quoting Aussi

Disliked

the government is always knocking china down every week , WHAT DO YOU EXPECT China was always going to step on us

Ignored

hi Aussi...apparently this has been in the traders for the better part of this month...why this hitting across now?? was this in any news in Australia prior to this?

kingleeny

Feb 21, 2019 12:10am

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Quoting mae4206

Disliked

coal much more bigger than job, who is that idiot selling down 100pips AU😂

Ignored

this is going to mess up their whole trade balance forcast and massive crippling effect for rest of market sentiment and business confidence.

dab

Feb 21, 2019 1:19am

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Quoting kingleeny

Disliked

{quote} are you really serious??? listen im not a fan of china policy....they dont negotiate...only one they are willing to do is with usa because they are the only one that could cripple them.

Ignored

They might have to negotiate in a month or two if the article is correct "It is hard to find a replacement for Australian coking coal since its sulfur content is very low,” said a purchasing manager at a large coke plant in Hebei province.

“Current inventory at ports should be sufficient to support usage for one or two months, but it could be a problem in the long term"

WhiteMouseFX

Feb 21, 2019 2:26am

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Quoting kingleeny

Disliked

{quote} falling real estate is the root of all financial crisis...unmovable assets borrowings that are larger then the price of the asset you own...like paying back money on something that is better off dead.

Ignored

Realstate is just the consequence of a falling industrial sector since 2007. The Australian public debt has grown hundreds of percent since then.

Henry2501

Feb 21, 2019 4:22am

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Here's why- they getting their coal from south africa
https://www.thesouthafrican.com/sout...-eskom-export/
Thats why here in SA we have load shedding. Power cuts because we don't have enough coal for eskom our electricity company. The only one.

prophetfx

Feb 20, 2019 11:39pm

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this is why no country should depend on other country game plans.

China will f*** AUS like his b*** now.

prophetfx

Feb 21, 2019 12:07am

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any one sees here any chance of up move?

prophetfx

Feb 21, 2019 12:16am

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Beijing is upset over Canberra's ban on Chinese telecommunications group Huawei, and the Morrison government's stance on cybersecurity threats, they say.

prophetfx

Feb 21, 2019 12:22am

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Ausi dollar is pegged with yuan

Minam

Feb 21, 2019 12:39am

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Quoting Tony112

Disliked

my name is stupid swan. hi.

Ignored

Australia deserved the China's treatment. Friend that can not be trusted. Hahaha

prophetfx

Feb 21, 2019 1:20am

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it looks like this is more of provocation and reminder than a real ban.

agree with me?

Trader#62C9

Feb 21, 2019 6:13am

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China ban and two potential rate cuts this year does not bode well for the AUS. Robust employment data has gone waste for the AUD.
Market reaction to China ban is a short term reaction. China needs to keep its mills rolling and export back to Oz and elsewhere. AUS will surely go up in the long run (read few weeks).
Am long on AUS and currently taking a beating.

Tony112

Feb 20, 2019 11:30pm

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my name is stupid swan. hi.

Tony112

Feb 21, 2019 12:02am

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oh lord, look at this mess

cdsaa

Feb 20, 2019 11:30pm

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what is happening... aud. 700 point fall.. wow...

cdsaa

Feb 21, 2019 1:28am

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sense kicking in.. again another movement. today looks like it is up and down volatile today

JackJones

Feb 21, 2019 1:38am

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Quoting prophetfx

Disliked

it looks like this is more of provocation and reminder than a real ban. agree with me?

Ignored

Dear China, what good is an economy if you can't breathe its air?

kingleeny

Feb 20, 2019 11:40pm

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now that rate cut just became...ummmm like now not later...this is sick.

kingleeny

Feb 20, 2019 11:54pm

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hmmm Europe going to be opening and in 6 hours the USA traders are in.....they are going to pound this down...chart looks so broken its disgusting.

WhiteMouseFX

Feb 21, 2019 2:21am

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Wake up to the Chinese enemy Aussie friends, or there will Australian dream no more. Crisis is knocking on the door because of it.

WhiteMouseFX

Feb 21, 2019 2:22am

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Eminent energy crisis.

WhiteMouseFX

Feb 21, 2019 2:23am

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Almost 80% of Australian energetic matrix is based on coal, relying on a unreliable source.

greendiesel

Feb 21, 2019 12:51am

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Cyber hack... my left foot, entering election propaganda phase, also look to see over coming months what else they create of thin air!, gloves are off pollies jobs are on the line LOL.

Sachu

Feb 20, 2019 11:37pm

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Trade War with AU Now?

Jewell59

Feb 20, 2019 11:42pm

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feeling bad for the ones without a stop loss right now.. it was uptrend on the 4 hour too. Big DIP. Many accounts i've had like that.. just wiped out on news releases like this from outta no where.

Feb 20, 2019 11:30pm

sudden drop on AUD

Feb 20, 2019 11:31pm

Knee jerk flash crash ???

prophetfx

Feb 20, 2019 11:40pm

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EURAUD AND GBPAUD has no change.

prophetfx

Feb 20, 2019 11:50pm

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Quoting Guest

Disliked

EURAUD & GBPAUD had no change?? You may want to recheck that one. ;-)

Ignored

sorry, I checked wrong pairs LOL

prophetfx

Feb 21, 2019 12:14am

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this cant be a sudden announcement, they just cant ban coal from Ausi without discussing it with them?

Trader#22BF

Feb 21, 2019 12:44am

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Quoting kingleeny

Disliked

{quote} Since they can't take it out on USA....they take it out against Austrailia....I would not be surprised if Trump pulls off a coal export to China trade...lol kill smaller free country for a bigger free country.

Ignored

lol its called retaliate . if u hit on the face , u will ask for another punch?

Trader#473C

Feb 21, 2019 12:49am

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It's an old story that started in Nov last year, and it happens every year. Aussie exports about 7 million tons of coal to China a year, and China is going to cap it at 12 million tons... I don't think that's a problem. I'm amazed how professional traders can be dupped by doggie stories, and to add insult to injury, it's from an "unnamed" source.

prophetfx

Feb 21, 2019 1:09am

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yes they take commodity make items and sell it back to australia LOOOL

Australian malls are only flooded with china items and products.

prophetfx

Feb 21, 2019 1:28am

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LOL AUD JUMPS 40 pips already

prophetfx

Feb 21, 2019 4:28am

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really really frustrating and sad politics going on in world, their own citizens dont have electricity and they want to export coal? why the fuck they wanna do that?