China’s National Development and Reform Commission has reportedly formalized restrictions on imports of Australian coal. If confirmed that extends the geopolitical spat with Australia. There does not appear to be a path to reconciliation, with Australia set to dispute the measures – alongside those covering a variety of other products – at the WTO. The coal restriction opens up opportunities for other suppliers including those in Russia, Mongolia and Indonesia. The latter represented 15.8% of China’s coal imports in 2019 versus Australia’s 49.3%. Indonesi...