India records 13% surge in coal imports in February 2024
What's the story
India's coal imports witnessed a significant surge of 13% in February 2024, reaching a total of 21.64 million tons (MT), according to data compiled by Mjunction.
This marks a rise compared to 19.15 MT imported during the same month, in the previous fiscal year.
The increase in coal imports is attributed to buyers replenishing stocks ahead of summer amid falling seaborne prices.
This suggests that market dynamics and seasonal factors played a significant role in influencing India's coal import trends.
Coal data
Non-coking coal imports witness a significant rise
The data also revealed a substantial increase in non-coking coal imports, which reached 13.77 MT in February 2024, up from the previous year's figure of 11.68 MT for the same period.
Coking coal volume also saw a slight rise at 4.56 MT, compared to the previous year's figure of 4.40 MT.
This indicates an overall growth trend in both coking and non-coking coal imports into India.
Fiscal growth
Total coal imports show increase in fiscal year 2024
From April to February of fiscal year 2024, total coal imports also saw a boost, hitting a total of 244.27 MT, an increase from the previous year's total of 227.93 MT during the same timeframe.
Non-coking coal imports during this period stood at 160.63 MT, surpassing the previous year's figure of 148.58 MT.
Coking coal imports also experienced an uptick, with a total of 51.87 MT being imported, compared to previous year's figure of 50.50 MT for the same period.