India’s coal import rose by 12.6 per cent to 107.34 million tonnes in the first six months of 2021-22.
The country had imported 95.30 million tonnes (MT) of the coal in April-September 2020-21, according to provisional data compiled by mjunction services, based on monitoring of vessels’ positions and data received from shipping companies.
mjunction–a joint venture between Tata Steel and SAIL–is a B2B e-commerce company and also publishes research reports on coal and steel verticals.
However, the country’s coal import dropped to 14.85 MT in September, against 19.04 MT in the corresponding month of previous fiscal, it said.
“Coal imports in September 2021 were also down by 21.97 per cent over September 2020 when imports stood at 19.04 MT,” it said.
“The substantial drop in import volumes in September as compared to the same month last year was in line with expectation, given the steady rise in thermal and coking coal prices in the global market. This trend is likely to continue till there is a significant correction and stability in seaborne prices,” Vinaya Varma, MD and CEO, mjunction said.
Of the total import in September, non-coking coal was at 9.22 MT, against 11.97 MT imported in September last year. Coking coal import was at 4.27 MT, down from 4.58 MT imported in September 2020.
“India’s coal and coke imports during September 2021 through the major and non-major ports are estimated to have dropped by 2.4 percent over August 2021,” it said.
Source:financialexpress.com