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The Wall Street Journal reported that a plan from China’s National Energy Administration that effectively bans the import of large volumes of low-quality coal will mainly effect Indonesia if it is approved.
The Wall Street Journal reported that a plan from China’s National Energy Administration that effectively bans the import of large volumes of low-quality coal will mainly effect Indonesia if it is approved.
As quoted in the market news:
Indonesia’s minister of energy, Jero Wacik, has said he isn’t worried about the plan. ‘There are still many markets other than China—such as India, South Korea, and others. If [demand for] our coal exports decrease, we can increase domestic absorption,’ he said.
‘We have many markets. So if one country bans imports, we’ll look for other markets,’ he told a coal conference Monday.
But an Indonesia coal-industry executive was more concerned. ‘One of the short-term solutions is to shift exports to countries like India, but it’s just a stopgap measure,’ he said.
Click here to read the full report from The Wall Street Journal.