Bloomberg reported yesterday that China's National Development and Reform Commission held talks on Tuesday on proposals to allow four major importers — China Baowu Steel Group Corp, China Datang Corp, China Huaneng Group Co and China Energy Investment Corp — to make new purchases this year, according to people familiar with the matter, who requested anonymity to discuss private details.

According to Reuters, the companies will be granted permission to purchase Australian coal only for their own use, sources said.

"Some (Chinese) traders have started to ask for prices of the February cargoes after the NDRC meeting," one of the people was quoted as saying.

The import of Australian coal and wine has been banned for two years.

However, a visit by Australian foreign minister Penny Wong to Beijing last month may have been a turning point in relations with the nation's biggest trading partner.

Share prices of coal producers, including Whitehaven Coal, jumped yesterday, but were among the weakest performers in early trade today.

The Australian dollar rose as high as 68.9c but since eased to 68.3c.