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.
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