As the second largest producer of crude steel, India is also a large consumer and importer of coking coal, but the booming Asian country is now looking to reduce its import dependence
Q1 2023 Coal India Ltd Earnings Call
India's coal imports hit a record high in June despite high global prices, data from three trade sources and Refinitiv ship tracking showed, as economic activity picked up and amid a domestic shortage of the fuel. India imported over 25 million tonnes of thermal coal and coking coal in June, rising by over a third compared with the same period last year, data from consultancies Coalmint and Kpler, and trader I-Energy Natural Resources showed. Imports of thermal coal - used mainly in electricity generation - jumped to 19.6 million tonnes, while shipments of coking coal - used in steelmaking - rose to about 5.4 million tonnes, Coalmint and I-energy data showed.