India’s coal import rose 9.7 per cent to 156.08 million tonne (MT) in the April-November period of the ongoing fiscal, as against 142.25 MT in the corresponding months a year ago, according to mjunction services Ltd, a joint venture between Tata Steel and SAIL. Coal imports in November this year also increased 10.1 per cent to 19.47 MT, over 17.68 MT in the corresponding month of the last fiscal, mjunction data showed.
“Imports during November 2018 stood at 19.47 MT (provisional)…Earlier, coal and coke imports in November 2017 stood at 17.68 MT,” it said.
Of the total imports last month, import of non-coking coal was at 14.24 MT, against 15.23 MT imported in October 2018. Commenting on the coal import trend, mjunction CEO Vinaya Varma said, “The significant correction in thermal coal prices in November prompted buyers to take a wait and watch approach. There, however, was a stable trend in met coal market and this was reflected in the buying pattern.”
The import of coking coal was at 3.93 MT in November 2018, almost flat against 3.94 MT imported a month ago. “Metallurgical coke imports during the month were at 0.50 MT, while 0.53 MT was imported in the previous month,” it said.
India’s coal and coke import during November 2018 through 31 major and non-major ports is estimated to have decreased by 5.32 percent over october 2018, according to a provisional compilation by mjunction, based on monitoring of vessels’ positions and data received from shipping companies.
Coal India accounts for over 80 per cent of the domestic coal output. Coal India had earlier said there is a need to revisit the timeline of one billion tonnes of production target by state-owned CIL by FY 2019-20.
Source: financialexpress.com