PM Morrison: Not accepting that China has banned imports of Australian coal

Dhwani Mehta FXStreet

Responding to the Chinese media speculation, the Aussie Prime Minister Scott Morrison said that he does not accept that Beijing has imposed a ban on Australia’s coal imports.

Key quotes

"Until we are in a position to have that clarified, then we can only treat [the news] as media speculation in the Chinese state-owned media,"

"It would be obviously in breach of our own free trade agreement [with China] and so we would hope that is certainly not the case."

"That is why we're seeking clarification on this … but obviously we take these issues very seriously."

Earlier today, Australia's Trade Minister Simon Birmingham noted: “We have seen a pattern of disruption in relation to Australian coal.”

China-state-owned media reported that the power stations have been not to buy Australian coal.

Market reaction

The upside attempts in the AUD/USD likely remains capped amid the Aussie-China spat and mixed Chinese activity numbers.

The spot was last seen trading at 0.7530, down 0.09% on the day.

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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