Coal imports up 4% at 162 million tonnes in April-October period – Newz9

NEW DELHI: The nation’s coal import rose by 4.2 per cent to 162.45 million tonnes (MT) in the April-October period of the present monetary yr in comparison with 155.87 MT in the yr-in the past period. Coal imports in October dropped by 14.4 per cent to 21.84 MT in comparison with 25.54 MT in the corresponding month of the earlier fiscal, in accordance with information compiled by mjunction providers, a B2B e-commerce platform.
Of the full imports in October, non-coking coal imports stood at 13.49 MT towards 18.82 MT imported in October final fiscal. Coking coal imports stood at 4.45 MT, towards 4.31 MT imported in October final monetary yr.
In September, non-coking coal imports have been 13.24 MT and coking coal at 3.39 MT.
“There was a modest increase (month-on-month) in non-coking coal volumes in October as buyers took fresh positions during the festive month, and ahead of the winter season. Going forward, demand is likely to be moderate due to the anticipated growth in domestic supply during the fourth quarter (Q4),” mjunction MD & CEO Vinaya Varma mentioned.
Coal and Mines Minister G Kishan Reddy had lately urged the metal sector to rely discount on imported coal and make the required adjustments in know-how.
The minister had mentioned that the import of coal needs to be lowered in a phased method. The metal trade makes use of coking coal.
The minister had additionally expressed hopes that the coal manufacturing goal of 1,080 million tonnes for the present fiscal yr could be met.