Worsening relations between Beijing and Canberra have stranded 74 vessels, about 8.1 million tons of coal, and an estimated 1,480 mariners off Chinese ports.
Copper prices jumps to highest since February 2013 on hopes US economic stimulus will further boost demand for metal already in short supply amid an Asian factory and construction boom.
With rising commodity prices and a drop in production costs setting the stage for blowout profits, copper producers are poised for their best year in over a decade.
Demand for thermal and metallurgical coal should rise to 7,432 million tonnes in 2021, from 7,243 million tonnes this year, according to the International Energy Agency.