FCC

India's coal imports rise 32 pc to 149 MT in Apr-Feb: Report

2023-04-11

According to a research, India's imports of coal grew by 32% to 148.58 million tonne (MT) in April-February FY23 from 112.38 MT in the same period the previous year. According to mjunction's most recent report, coking coal imports increased 7.69% to 50.50 MT during April to February of FY23 from 46.89 MT a year earlier.

The total amount of non-coking coal imported in February 2023 was 11.68 MT, up from 9.42 MT in the corresponding month of the previous year.

Imports of coking coal increased to 4.40 MT from 4.03 MT in February 2022.

India is one of the top five producers of coal worldwide. Yet, because the nation is also among the top consumers of the dry fuel, some of its coal needs are satisfied through imports.

The nation continues to be largely dependent on imports for coking coal, a crucial raw material used in the production of steel.

"The softening of seaborne pricing coupled with significant domestic demand resulted in ongoing buying interest among Indian dealers and consumers," stated company Director Vinaya Varma.

However, he warned, the rising domestic supply and the solid stock position might limit volumes in the upcoming month.

A business-to-business (B2B) e-commerce joint venture between Tata Steel and Steel Authority of India Ltd., mjunction is situated in Kolkata (SAIL).