| Date: |
24-05-2013 |
| Subject: |
India coking coal imports likely to up in 2013/14 |
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Reuters reported that India's metallurgical coal imports are likely to grow by 8.7% to 35 million tonnes in 2013/14 as additions to its steel-making capacity lift demand.
An official at JSW Steel said that India is expected to add around 5 million to 6 million tonnes of steel making capacity in this fiscal year to end March. The official said that "In the coming years, coking coal imports will go up because of the new capacities that are coming up.”
Imports in the last fiscal year covered about 40% of India's total metallurgical, or coking, coal needs. Domestic coal reserves of 286 billion tonnes, fifth-largest in the world according to BP, mostly consist of thermal coal, which is used in power plants.
A coal trader said that "I expect (coking coal) imports of 35 million tonnes this fiscal year.”
India produced 49.35 million tonnes of metallurgical coal and imported 32.2 million tonnes in 2012/13, government data showed.
Source : coalguru.com
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