SteelMint learned that India's Coal import has significantly dropped in last month. China has imported nearly 12.5 Million ton of coal from
Indonesia last month and in contrary India imported 3.9 million tons. Indonesia
the world largest coal exporter shipped 31,162,688 MT Coal in October 2011.
China over take India to became the largest importer of Indonesian coal in
October.
40.38 percent of total Indonesian coal exports in October were shipped to China.
Indian
imports have dropped drastically since last two months, according to available
export data.
“Despite an acute fuel shortage, Indian power producers are
refusing to buy expensive coal, leaving coal importers to face big losses as
stocks mount up. Coal stock piles at various ports have reached record levels
and are estimated to surpass the 11MT mark”, as stated by economic times.
Source: Coal Spot.com
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