China moves to squash runaway coal

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More excellent bulks material today from Macquarie:

China commodities trip: Update on government policy and coal

 Following yesterday’s note on steel, we summarise the main takeaways regarding government policy and the coal market from our recent trip to China. Coal miners around the world have benefited from the Chinese government’s “276 working days policy” introduced in April 2016. This year, the policy has been relaxed, but more frequent and increasingly stringent safety inspections have led to ongoing production disruptions.

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.