India’s coal import declines 12pc

1 March, 2021 12:00 AM printer

NEW DELHI: India’s coal import registered a drop of 11.59 per cent to 180.84 million tonnes (MT) in the first 10 months of the ongoing fiscal.

The company had imported 204.55 MT of coal in April-January period of the previous fiscal year, according to provisional data compiled by mjunction services, report agencies.

mjunction—a joint venture of Tata Steel and SAIL—is a B2B e-commerce company and also publishes research reports on coal and steel verticals.

However, India’s coal imports in January increased to 20.05 MT as against 18.67 MT in year-ago period, it said.

Commenting on the coal import trend, mjunction MD and CEO Vinaya Varma said, “There was a drop in January volumes as compared to the previous month (December). This was mainly due to the firmness in seaborne prices. While there is steady demand in the market, the import trend will largely depend on the movements in international prices, freight rates and also domestic supply.”