The RoDTEP scheme, which offers refunds on central, state and local duties and taxes, is applicable to exports until 30 September 2023.

There were 30 vessels queued off the port on 5 December, which was in line with 7 November.

The Australia low-volatile premium hard coking coal price has fallen by over $64/t, or 21pc, from the start of the month to $247.45/t fob on 30 November.

Brazil's grid operator ONS forecasts an average 3.4pc yearly increase in power demand from 2023-2027.

Historically, crude oil and iron ore prices are strongly correlated, which is unsurprising given they are both commodities tied to the state of the global economy. But in recent weeks the link has largely been severed.

The Australian government's plans to cap the price of natural gas and thermal coal for domestic consumers has provoked the predictable howls of protest from the industry and warnings of dire consequences.

Kazakhstan's GDP expanded 2.7% y/y in Jan-Nov, PM says

In November, the largest steel import permit applications were for Canada (561,000 NT, down 11% from October final), Mexico (422,000 NT, down 38%).