India's Coal Imports Surge 40.56% in July
India's coal imports increased by 40.56% to 25.23 million tonnes (MT) in July, up from 17.95 MT in the same month last year, according to data from mjunction services. For the April-July period, total imports reached 100.48 MT, compared to 89.11 MT in the previous fiscal.
Market Dynamics:
Non-Coking Coal Demand: Imports of non-coking coal rose significantly, accounting for 16.52 MT in July, up from 10.16 MT last year. This trend is attributed to falling prices in the seaborne market. Coking Coal Volumes: Coking coal imports slightly declined to 4.81 MT from 5.03 MT in July of the previous fiscal year, reflecting weaker demand from steel mills. Production Trends:
India’s coal production in July increased by 6.36% year-on-year to 74 MT, with total production for the April-July period rising by 9.6% to 321.39 MT. Despite the rise in imports, Coal and Mines Minister G Kishan Reddy emphasized the need for increased domestic production to reduce reliance on imports. As demand is expected to remain strong ahead of the festive season, analysts predict continued buoyancy in import activity.
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