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Message: <blockquote data-quote="nicjosh83" data-source="post: 26960422" data-attributes="member: 569114"><h3>Desperate China backflips on Australian coal</h3>China, caught in the grips of a power crunch, has begun unloading Australian coal shipments despite an unofficial import ban.  <img class="smilie smilie--emoji" loading="lazy" alt="🤭" title="Face with hand over mouth    :face_with_hand_over_mouth:" src="https://cdn.jsdelivr.net/joypixels/assets/6.6/png/unicode/64/1f92d.png" data-shortname=":face_with_hand_over_mouth:" />Extreme weather, a surge in demand and strict orders from Beijing to reduce carbon emissions have sparked an <a href="https://www.news.com.au/finance/economy/unprecedented-power-crunch-the-next-big-economic-shock-for-china/news-story/1bb382dfe071b4170fcc04ccc10f74ea" target="_blank">electricity crisis in China</a>.Aluminium smelters, textiles producers and soybean processing plants were ordered to slow activity or shut altogether last week as soaring demand pushed electricity prices to record highs.More than a dozen provinces and regions have been forced to impose curbs on energy usage in recent months.And China’s thermal <a href="https://www.news.com.au/finance/markets/world-markets/coal-price-surge-gives-australia-a-new-hope-against-china/news-story/f4648c82731cbe8e232302e763ad7071" target="_blank">coal</a> inventory – which is used to generate electricity – is at a <a href="https://www.news.com.au/finance/economy/unprecedented-power-crunch-the-next-big-economic-shock-for-china/news-story/1bb382dfe071b4170fcc04ccc10f74ea" target="_blank">record low</a>. The crisis has seemingly forced China into a massive backflip. <img class="smilie smilie--emoji" loading="lazy" alt="🤭" title="Face with hand over mouth    :face_with_hand_over_mouth:" src="https://cdn.jsdelivr.net/joypixels/assets/6.6/png/unicode/64/1f92d.png" data-shortname=":face_with_hand_over_mouth:" /><a href="https://www.news.com.au/finance/economy/desperate-china-backflips-on-australian-coal/news-story/a95b66b707a25dfda11104702bcb63b5" target="_blank">https://www.news.com.au/finance/economy/desperate-china-backflips-on-australian-coal/news-story/a95b66b707a25dfda11104702bcb63b5</a></blockquote>

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