Buyers and sellers in the seaborne coking coal market remained on the sidelines on Tuesday November 20 to monitor the effects of Chinese import restrictions that came to the fore last week.
The National Development & Reform Commission has put a stop to cargoes clearing customs at ports other than their actual destinations as well as the purchase of imported coal that are loaded before December 15. The move came in the wake of Chinese ports exhausting their coal import quotas. "There has not been a big reaction from the market [in the form of a price decline] because there isn't a whole lot of spot cargoes available," a Chinese trading source said."This...