Indian high-heat coal imports defy decline

摘要

India’s thermal coal imports declined in May, but receipts of higher-heat product resisted the wider trend. Imports of thermal coal in May fell by 2.28mn t on the year to 11.64mn t, according to data from trading services platform Mjunction. High domestic coal stocks have helped dampen India’s im- ported coal demand. But receipts were also down partly as a result of a decision among some buyers to take higher-calorifc value coal, reducing the amount of tonnes they need for every unit of heat. This trend is likely driven by the government’s decision to double its tax on coal to 400 rupees/t ($5.96) at the start of this financial year on 1 April. Sharper price falls for higher heat South African and Colombian coals in the frst couple of months of this year compared with lower-heat Indo- nesian coal also played a role.