Coking Coal Import to India Touches 44 MnT in Initial 11 Months

Indian coking coal import grew by about 7% in first 11 months of the fiscal against the previous year. However, import fell by 19% in Feb’16 on monthly basis and 5.5% on yearly basis.

 India, perceived amongst the biggest coking coal merchant all around, has imported 3.4 MnT of coking coal in Feb’16. The quantity was about 0.6 MnT lesser than the previous month. In the midst of persistent mounting production of CIL, Indian steel creators imported lion’s share of coking coal. The reason behind is a small share of coking coal from Indian coal holds and absence of high quality required for delivering coke of prime quality required in steel generation. Qty in MnT Source- SteelMint Research

It is to be noted that the nation has imported about 3 MnT more coal in FY16 from Apr-Feb against the same period of time in the last financial year. Total coking coal imports in FY15 stood at 41.3 MnT (Apr-Feb). Whereas, the quantity touched 44.3 MnT in current fiscal for the same period of time.

Top exporters in Jan’16

SteelMint assessed that Australia, Indonesia and USA were the prime exporter of coking coal  for Indian steelmakers in Feb’16. Aussie’s coal as normal commanded the imports. Australia exported 2.9 MnT of coking coal to India. The quantity constitutes a noteworthy contribution and records for about 85% of the aggregate coking import for the month.

Major discharging ports

Mormugoa, Paradip and Dhamra Ports were the significant ports that held coking stocks. About 0.7 MnT was accounted for to be released at Mormugoa and Paradip ports individually. Dharma port held the highest quantity of coking stock, trailed by Mormugoa and Paradip.

Source- SteelMint Research

Key shippers for the month

SAIL, JSW Steel and RINL were the top shippers of the month. All these 3 represented 61% of the aggregate imported quantity. Qty in MnT Source- SteelMint Research