Economics
Australia Denies China Coal Ban in Bid to Ease Investor Fears
- ‘No basis to believe’ Australia singled out, minister says
- Local dollar, coal stock hit amid concerns of souring ties
Photographer: Brendon Thorne/Bloomberg
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Australia denied that a major port in northern China has banned its coal imports and sought to calm investor nerves that strained political ties are undermining its most important trading relationship.
Key government ministers took to the airwaves Friday to dismiss a report that Dalian Port Group has imposed an indefinite ban on Australian coal. While quotas and testing has slowed down shipments in some areas, there’s no indication Australia has been singled out, Trade Minister Simon Birmingham said.