China tightens coal quality standards

CHINA will ban the import and local sale of coal with high ash and sulphur content starting from 2015 in a bid to tackle air pollution, with tough requirements in coastal cities set to hit Australian producers the hardest. China imported about 54 million tons of Australian thermal coal and another 13 million tons from South Africa last year – most of which would not meet the proposed restrictions on ash and sulphur content. The policy comes as prices on the GlobalCOAL Newcastle index slump to a five-year low amid a supply glut and slowing demand. – Reuters