India's Coal Imports Increase by 5% to 52 Million Tonnes in April-May
COAL & MINING

India's Coal Imports Increase by 5% to 52 Million Tonnes in April-May

India's coal imports increased by 5.3% to 52.29 million tonnes (MT) in the first two months of the current fiscal year compared to the same period last year. The data, compiled by mjunction services, indicated that the country had imported 49.62 MT of coal in April and May of FY24.

However, there was a slight decline in coal imports in May, dropping to 26.19 MT from 26.57 MT a year earlier.

According to mjunction services ltd, there was a decrease of 1.43% compared to the 26.57 MT imported in May 2023.

Vinaya Varma, MD and CEO of mjunction, mentioned that demand for imports is likely to stay low in the coming weeks due to the monsoon onset, while domestic production growth is expected to remain robust.

Additionally, it was anticipated that coking coal prices in the international market would rise due to supply constraints, potentially affecting interest from buyers in India.

In May, non-coking coal imports totaled 17.53 MT, down from 18.10 MT the previous year. Coking coal imports amounted to 5.03 MT, compared to 5.10 MT in May 2023.

Coal India is responsible for more than 80% of domestic coal production.

Following his appointment as coal and mines minister, G Kishan Reddy emphasized the need for India to boost domestic coal production and reduce reliance on imports.

India's coal imports increased by 5.3% to 52.29 million tonnes (MT) in the first two months of the current fiscal year compared to the same period last year. The data, compiled by mjunction services, indicated that the country had imported 49.62 MT of coal in April and May of FY24. However, there was a slight decline in coal imports in May, dropping to 26.19 MT from 26.57 MT a year earlier. According to mjunction services ltd, there was a decrease of 1.43% compared to the 26.57 MT imported in May 2023. Vinaya Varma, MD and CEO of mjunction, mentioned that demand for imports is likely to stay low in the coming weeks due to the monsoon onset, while domestic production growth is expected to remain robust. Additionally, it was anticipated that coking coal prices in the international market would rise due to supply constraints, potentially affecting interest from buyers in India. In May, non-coking coal imports totaled 17.53 MT, down from 18.10 MT the previous year. Coking coal imports amounted to 5.03 MT, compared to 5.10 MT in May 2023. Coal India is responsible for more than 80% of domestic coal production. Following his appointment as coal and mines minister, G Kishan Reddy emphasized the need for India to boost domestic coal production and reduce reliance on imports.

Next Story
Resources

Minister announces housing project at Nakshatrwadi under PMAY

The government is committed to provide homes to homeless citizens thereby improving their living standards. As part of this effort, 1056 new homes will be built at Nakshatrwadi in Chhatrapati Sambhaji Nagar under the Pradhan Mantri Awas Yojana (PMAY). This announcement was made by Atul Save, Housing Minister, State, in Chhatrapati Sambhaji Nagar.At an event held at the District Collector's office, Atul Save conducted a computerised lottery to allocate 1,133 homes and 361 available plots in Chhatrapati Sambhaji Nagar, as well as in Latur, Jalna, Nanded, Hingoli, Parbhani and Dharashiv. These ho..

Next Story
Infrastructure Urban

Liebherr-Werk Bischofshofen sets the course for the future

Liebherr-Werk Bischofshofen GmbH is planning to significantly expand its production capacity by building an additional manufacturing plant for small wheel loaders in Wildon, Styria. This strategic decision is a response to the steadily growing wheel loader market and underlines the company's commitment to sustainable growth. The new production site is scheduled for completion in 2029. The Liebherr Group's wheel loader production plant in Bischofshofen employs 1,200 people on a site covering 170,000 m?. With its present capacity, up to 7,000 wheel loaders can be produced each year. In the med..

Next Story
Infrastructure Urban

ESR leases 48,800 sq. ft. industrial space to UPM in Navi Mumbai

ESR Group, Asia-Pacific?s leading real asset manager, has leased 48,800 sq. ft. (over 4,500 sq m of prime industrial real estate to UPM's business unit UPM Raflatac, a world-leading sustainable labelling solutions provider. UPM will use this space in ESR Taloja Industrial & Logistics Park to serve its growing customer base in India and achieve higher efficiency in their operations. UPM Raflatac, headquartered in Helsinki, offers a wide range of pressure-sensitive label materials for various applications, from food and beverage packaging to pharmaceuticals and industrial labelling. The new spac..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000

Join us Telegram