Sluggish demand continues to prevail in Indian Anthracite coal market as end-users prefer alternate fuels, available at cheaper costs.
Amid lackluster market, import offers have stagnated at the rates last assessed. According to a reputed importer, offers are unchanged at USD 92-93/MT, CFR India.
Alternate fuels like Pet coke and other forms of coal have became significantly cheaper in domestic as well as international markets. Thus, buyers have no reason to opt for the higher priced Anthracite coal.
Apparently, import also fell remarkably due to sluggish demand. In Jan’16, a meager quantity of 60,800 MT was imported into the country, according to SteelMint Research.
However, with the imposition of the Minimum Import Price (MIP) on steel products by the Government of India (GoI) recently, steel production is expected improve in the country in near future. Afterwards, Anthracite coal demand may see some marginal improvement.
The GoI has recently revised the customs exchange rate to INR 68.45 per USD.
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