NEWS

India: Coal imports surge to 162 MT in FY23; inbound coking coal shipment grows to 54 MT

The import of coking coal rose 5.44 per cent to 54.46 MT over 51.65 MT in FY22, mjunction said in its latest report.

In March alone, the non-coking coal import stood at 13.88 MT against 12.61 MT in the same month last year.

India’s coal imports increased by 30 per cent to 162.46 million tonnes in the 2022-23 financial year against 124.99 MT in the year-ago period, according to a report. The import of coking coal rose 5.44 per cent to 54.46 MT over 51.65 MT in FY22, mjunction said in its latest report.

In March alone, the non-coking coal import stood at 13.88 MT against 12.61 MT in the same month last year. Coking coal imports were 3.96 MT against 4.76 MT imported in March 2022. India is among the top five coal-producing countries in the world. However, some parts of its coal requirement are met through imports as the country is also among the major consumers of the dry fuel.

For coking coal — a key raw material used in steel making — the country remains heavily dependent on imports. “The persistently high demand for steam coal in India coupled with the weakening of seaborne prices led to increased volumes during March. This trend is likely to continue in coming months in view of the above-normal average temperature expected this summer,” mjunction MD & CEO Vinaya Varma said.

https://www.financialexpress.com/industry/coal-imports-surge-to-162-mt-in-fy23-inbound-coking-coal-shipment-grows-to-54-mt/3078762/