India’s Coal Imports Drop for Sixth Consecutive Month | OilPrice.com
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Breaking News:
India’s thermal coal imports are estimated to have dropped in February, for the sixth consecutive month, amid higher domestic production and muted demand growth from industry and power generation.
India’s imports of thermal coal, the type of coal used for power generation, dipped by 15.3% to 12.16 million metric tons last month, according to data from Indian consultancy Bigmint cited by Reuters.
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For the six months to February, imports into India, the world’s second-biggest coal buyer after China, are estimated to have declined by 20% to 77.3 million tons.
India’s push to boost domestic coal production and reduce reliance on imported coal was one of the drivers for the lower imports in recent months.
Other reasons include essentially flat demand for power generation in the first two months of this year and slowing growth in manufacturing activity.
Although India’s factory activity remains firmly in expansion territory, the growth in February was the weakest since December 2023, according to the HSBC India Manufacturing Purchasing Managers’ Index (PMI) survey compiled by S&P Global.
As the summer season with higher temperatures approaches, coal demand in India is set to rebound, according to analysts.
India reduced its imports of coal in 2024 as it began to boost its domestic supply of coal.
India has been looking to cut its dependence on foreign coal supply to meet its surging power demand and has hiked domestic production. While coal is abundant in domestic mines, it is typically of lower quality and contains lower levels of energy when burnt compared to most imports.
In India, coal-fired power generation and emissions jumped to a record in 2024 amid soaring electricity demand and the use of more volumes of coal mined domestically rather than imported from overseas.
Domestic coal production hit a record high level in 2024 as the government seeks to reduce imports.
By Tsvetana Paraskova for Oilprice.com
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