India, the world's fourth-largest steel producer, is expected to add around 5 million to 6 million tons of steel-making capacity in this fiscal year to end-March, and so India's metallurgical coal imports are likely to grow by 8.7 percent to 35 million tons in 2013-14 as additions to its steel-making capacity lift demand.
As the new capacities are coming up and as Honorable Supreme Court lifted ban on Iron ore mining in Karnataka, it would add up Indian coking coal requirement. In last fiscal India has imported around 32 MnT of coking coal and which would rise in current fiscal to 35 MnT (9.3% more than last fiscal) and in longer term coking coal import may see the figure of 50-60 MnT by 2020.
India is mainly Importing coking coals from Australia, South Africa, US etc. as the demand will increase imported quantity will spread over these countries.
Currently the Australian premium low volume coking coal CFR price is around USD 155 per Mt (INR 8525 per Mt.)
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