India’s July coking coal imports nearly double on year

Source : https://www.argusmedia.com/en/news/2253420-indias-july-coking-coal-imports-nearly-double-on-year

 

India's coking coal imports rose in July to nearly double from a year ago as consumption increased with higher steel exports.

India imported 4.61mn t of coking coal in July, up by 14pc from June and by 97pc from a year earlier, according to data from e-commerce firm Mjunction. Australia accounted for the bulk of the increase.

The country's January-July imports increased by 45pc from a year earlier to 33.72mn t.

Australian imports stood at 3.63mn t in July, up 89pc from a year earlier when the Covid-19 pandemic upended economic activity and hit steel consumption.

Indian steel companies have lifted their production in response to high demand in international markets.

The Argus premium low-volatile hard coking coal index closed at $240.90/t cfr India on 30 July, up by 12pc from $215/t cfr India on 30 June.

India's pulverised coal injection (PCI) imports of 1.32mn t in July rose by 36pc on the month and by 32pc on the year. Its July PCI imports from Australia increased by 31pc from June to 1.04mn t, while Russian PCI arrivals gained by 58pc on the month to 273,974t.

The country's January-July PCI imports increased by 25pc from a year earlier to 8.4mn t.

India's met coke imports dropped by 54pc on the month to 141,933t in July. Arrivals from Poland topped July imports at 64,755t, followed by Japan at 44,683t and Columbia with 29,632t. Other suppliers included China with 1,096t and Russia with 337t.

Australian premium hard coking coal prices on a fob basis rose to $313.35/t on 10 September amid tight supply availability.

 

By Sumita Layek

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