India's imports of coal surged by 30% to 162.46 million tonnes in the 2022–23 fiscal year from 124.99 MT in the prior fiscal year. According to Junction, coking coal imports increased 5.44 percent to 54.46 MT from 51.65 MT in FY22. The import of non-coking coal was 13.88 MT in March alone compared to 12.61 MT in the same month last year. 3.96 MT of coking coal was imported
compared to 4.76 MT in March 2022. India is one of the top five producers of coal worldwide. However, because the nation is also among the top consumers of the dry fuel, some of its coal needs are satisfied through imports. The nation continues to be largely dependent on imports for coking coal, a crucial raw material used in the production of steel.
"In March, volumes climbed as a result of the continually high demand for steam coal in India and the declining seaborne pricing. Given the above-average average temperature anticipated this summer, this tendency is likely to continue in the next months, according to Vinaya Varma, MD & CEO of mjunction.
The overall imports of coal, including various types such anthracite, pulverised coal injection (PCI coal), met coke, and pet coke, increased by nearly 24% to 249.06 MT in FY23 from 200.71 MT in FY22. Mjunction Services Limited, a joint venture between Tata Steel and the Steel Authority of India (SAIL), is a B2B e-commerce platform.
