Coal import surges 5% to 52 MT in Apr-May 2024

During the first two months of the current fiscal year, India's coal imports increased by 5.3 percent to reach 52.29 million tonnes (MT) compared to the same period last year. The country's coal import for April and May in FY24 was 49.62 MT, as reported by mjunction Services Ltd, a B2B e-commerce platform formed through a joint venture between Tata Steel and SAIL.

However, coal import in May dropped marginally to 26.19 MT, from 26.57 MT a year earlier.

According to mjunction MD and CEO Vinaya Varma, the demand for imports is likely to remain subdued in the coming weeks due to the onset of monsoon while the production growth should stay healthy in the domestic market.

 

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"Coal imports... were down 1.43 percent as against 26.57 MT imported in May 2023," it said.

"Coking coal prices are expected to rise in the global market due to supply shortages, which may affect buyers' interest in the country. In May, non-coking coal imports totaled 17.53 million metric tons, down from 18.10 million metric tons in May of last year. The volume of coking coal imports was 5.03 million metric tons, compared to 5.10 million metric tons in May 2023."

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