End of Australia’s coal export boom to China is ‘imminent’

, according to a new study that puts renewed pressure on both sides of politics to explain to marginal seat voters in Queensland and the Hunter how they will manage the transition.import ban on Australian coalDetailed modelling of changes in links between China’s sources of coal and steel and power plants suggests the country’s imports of thermal coal could fall from 210 megatons per year to 155 megatons between 2019 and 2025.

“Our findings are clear; Beijing’s plans for rapid decarbonisation and energy security signal the end for Australia’s current coal export boom,” Dr Gosens said. Coking coal exports from Australia to China are expected to be between 20 and 22 megatons, down from almost 30 megatons in 2019. The other factor behind the authors’ view that demand for Australian coal will fall is China’s efforts to rapidly expand renewable energy capacity.

The recent turmoil in global energy markets “will only strengthen Beijing’s resolve to decrease its dependency on them.”

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End of Australia’s coal export boom to China is ‘imminent’ANU economists make the finding in a report that challenges both sides of politics to show how they will help workers in the Hunter and Queensland survive. It is a good academic exercise but I like to hear from people investing in coal - their predictions of future demand. China produces and uses 50% of global coal so not surprising their desire to become more independent from imports.
Source: FinancialReview - 🏆 2. / 90 Read more »