What happens when a commodity-poor nation that consumes huge qualities of commodities blocks external supply. Amusing stuff from Platts:
Seaborne metallurgical coal prices have fallen sharply since China moved to temporarily halt Australian coal imports in early October as the implied surplus weighing on the global market in the fourth quarter is priced in.
Chinese steelmakers have been obliged to quickly seek alternative supply, and some are trying to resell their cargoes.
