Coal import declines in July over sluggish demand, availability of high stock

[ad_1] India's coal import dropped 16.4 per cent to 21.08 million tonnes (MT) in July due to sluggish demand during monsoon and availability of high stock. The country's coal import was 25.23 million tonnes (MT) in the year-ago period. India's import during the April-July period of the current fiscal year also declined to 97.49 million tonnes over 100.48 million tonnes in the year-ago period, according to mjunction services, a B2B e-commerce platform and a joint venture between Tata Steel and SAIL. "There was a decline in volumes due to sluggish demand during monsoon and the high stock available in the system. We expect to see an uptick in demand before the festive season starting end-September," mjunction MD & CEO Vinaya Varma said.Of the total imports in July, non-coking coal import stood at 11.54 MT, against 16.52 MT imported in July last financial year. Coking coal import was at 5.85 MT, against 4.81 MT recorded during July last fiscal year.Live Events During the April-July period, non-coking coal import was at 60.62 MT, lower than 65.64 MT imported during the year-ago period. Coking coal import was at 22.22 MT during the April-July period, up from 20.26 MT during the corresponding period of the previous fiscal year. Coal Minister G Kishan Reddy had earlier said the country will not face any shortage of coal during monsoon, as the government is well prepared to meet the demand across various sectors, including the power sector.The government had said it remains committed to achieving sustainable growth, improving coal availability, and reducing dependence on imports.Add as a Reliable and Trusted News Source With the positive momentum, the coal sector continues to play a pivotal role in powering India's growth story. [ad_2] Source link Follow Us: https://facebook.com/gagab2b https://youtube.com/gagab2b https://gagab2b.com https://gagab2b.com/import-export-news/import-export-india-news/coal-import-declines-in-july-over-sluggish-demand-availability-of-high-stock/?feed_id=3172&_unique_id=68c61e5ca1c66

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