India’s coal import likely to be subdued in coming months: mjunction

India’s coal import is expected to be subdued in coming months on account of various factors like prevailing Covid situation and high coal stock in the system, according to mjunction


coal import | Mjunction

India’s coal import is expected to be subdued in coming months on account of various factors like prevailing Covid situation, high coal stock in the system and higher international prices, according to mjunction.

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.

The country’s coal import fell 12.62 per cent to 215.92 million tonnes (MT) in FY21 from 247.10 MT in FY20, according to a provisional compilation by mjunction services, based on monitoring of vessels’ positions and data received from shipping companies.

“The overall decline in coal imports during the year 2020-21 was on expected lines. In coming months, import demand is likely to be subdued in view of the surge in COVID-19 infections, high coal stock in the system and high prices prevailing in the international market,” mjunction services MD and CEO Vinaya Varma said.

India’s coal import in March 2021 was at 19.79 MT as against 19.87 MT imported in the same month a year ago, mjunction said.

For the financial year 2020-21, total coal and coke imports stood at 215.92 MT, about 12.62 per cent lower than 247.10 MT imported during FY20.

During FY21, non-coking coal import was at 141.02 MT as against 170.75 MT imported during FY20. Coking coal import was recorded at 49.44 MT, flat against 49.17 MT imported during FY20.

Of the total imports in March 2021, non-coking coal was at 12.12 MT, against 13.16 MT imported in March 2020.

Coking coal import was at 5.47 MT during March 2021, up against 4 MT imported in March 2020.

The second wave of the COVID-19 pandemic has wreaked havoc across the country, bringing the entire healthcare system to its knees.

The country’s daily coronavirus tally crossed the grim milestone of four lakh, while the death toll rose to 2,11,853 with 3,523 fresh fatalities, according to data updated by the Union Health Ministry on Saturday.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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