- Imports from Mozambique surge in August
- Dhamra Port receives highest cargo volumes
India’s coking coal imports in August, 2024 dipped to 5.8 million tonnes (mnt) from 6.0 mnt in July, 2024, as per provisional data maintained with BigMint.
Country-wise break-up
Imports from Australia increased by 3% m-o-m to 3 mnt in August, up from 2.9 mnt in July. In contrast, imports from Russia declined by 8% to 1.2 mnt, down from 1.3 mnt. Meanwhile, imports from Mozambique rebounded to 0.5 mnt in August, compared to 0.2 mnt in July.
Shipper-wise imports
JSW Steel recorded the highest imports at 1.3 mnt, down slightly from 1.5 mnt in July. Tata Steel’s imports rose by 44% to 1.3 mnt m-o-m. On the other hand, SAIL’s imports dropped by 31% to 1.1 mnt.
Port-wise data
Dhamra Port received the highest cargo volumes at 1.2 mnt, consistent with July. Paradip Port handled 1.2 mnt, up 9%. Haldia Port saw a 50% drop to 0.5 mnt.
Price trends
Average Australian premium HCC coking coal prices slumped by sharp 15% m-o-m to $220/tonne (t) CFR India in August from $260/t in July. The slump was driven by weak demand from Indian steel mills, seasonal and logistical impacts from the monsoon, increased global supply from Australia, competitive pricing from other origins, currency fluctuations, a weaker global economic outlook, and market speculation. These combined factors created an environment where coking coal prices faced significant downward pressure throughout the month.
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