India imports drop
India’s coking coal imports fell to 2.84 mt in June, down from 3.18 million tons (mt) in May, provisional data showed.
During the April-June period of the current fiscal coking coal imports by India fell 28.29 percent to 9.25 mt, according to provisional data with Coal Insights. Meanwhile, metallurgical coke import offers declined in July on low demand in China and India.
Sufficient supply in China and continuation of lockdown in some regions of India led to low demand and production. Onset of monsoons in India has also hampered production and supplies.
However, with government mostly in the unlock mode in India, demand and production is set to pick up by the Q3 FY21, according to analysts. This may lead to higher consumption of steel and steelmaking raw materials, they observed.
Metallurgical coke imports by India decreased by 56 percent to 372,076 tons during April-June quarter, compared to 849,381 tons in the corresponding quarter of the last fiscal, according to data collected from 31 ports.
Global coking coal miners bank on India recovery
Global diversified mining major Anglo American Plc is hopeful of recovery and growth of Indian steel sector driving the market for metallurgical coal.
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SCCL's coal production up 64% in Q1
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The UK to end thermal coal use in October 2024
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India's May coal imports up 20% y-o-y
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There is still a long way to go to squeeze coal out: BP
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âGrowing Infrastrcuture is a big opportunity for OTR Tires in Indiaâ
India is now considered to be the largest market for Off-the-Road Tires (OTR) used in construction & mining industry. The opening up of the coal sector has provided further push to the potential usage of such tires. And Balkrishna Industries Ltd, a global player with diversified portfolio under the BKT brand across agriculture, industrial, construction, earthmoving, mining and port is set to seize the opportunity. Rajiv Poddar, Joint Managing Director, Balkrishna Industries Ltd., tells Arindam Bandyopadhyay of Coal Insights about the opportunities and outlook for the sector and the company.
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