India imported 134.5 million metric tonnes of coal in the first seven months of the current fiscal year, an 8 percent increase over the same period of last year, according to mjunction services.
India’s coal imports totaled 124.5 million metric tons for the first seven months of fiscal 2017, according to reports. However, the nation did decrease coal and coke imports somewhat in October compared year over year.
“India’s thermal coal demand remained buoyant due to the coal shortage in the power sector,” mjunction CEO Vinaya Varma said in a statement. “However, there was an expectation of further corrections in spot coal prices, which might have delayed some procurement plans. In the met coal segment, a healthy growth in steel industry and expectation of a price rise led to higher volumes.”
India is the world’s third largest producer and consumer of electricity and that generation mix is primarily fired by fossil fuels. The nation is committed to dramatically raising its renewables profile, but growing economic demand is still centered on conventional power.
Coal accounts for nearly 75 percent of Indian power generation.
mjunction is a joint venture platform of TATA Steel and SAIL.