India's coal imports in May increased by 14.6% year-on-year
According to the latest data from the Indian mjunction service platform, in May 2019, India imported a total of 24.01 million tons of coal, an increase of 14.55% from 20.96 million tons in the same period of last year, and a decrease of 8.7% from the April import of 26.3 million tons.
Mjunction is an online purchase and sales platform jointly operated by the Indian Steel Management Company (SAIL) and Tata Steel. The data is compiled by the mjunction platform based on ship monitoring data received by the shipping company.
Earlier, the Indian government had relaxed the timetable for Coal India Ltd to achieve its 1 billion tons production target, which accounts for more than 80% of India's total domestic production.
In May, India's non-coking coal imports were 17.74 million tons, coking coal imports were 3.8 million tons, and metallurgical coke imports were 310,000 tons.
“In May, India’s power plant stocks were sufficient, so non-coking coal imports fell. However, power plants may step up their replenishment before the arrival of the monsoon season in June, so that non-coking coal imports will increase again. In addition, the amount of coking coal is also higher. Low, because steel mills hope to wait for the quotation to fall back and replenish the warehouse,” said Vinaya Varma, CEO of mjunction service platform.