financetom
Economy
financetom
/
Economy
/
India's coal import rises 12% to 79 MT in April-July
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
India's coal import rises 12% to 79 MT in April-July
Sep 2, 2018 1:32 AM

India's coal import rose 11.9 per cent to 78.7 million tonnes in the first four months of the current fiscal. The country had imported 70.3 million tonnes (MT) coal in April-July period of the last fiscal, mjunction services, a joint venture between Tata Steel and SAIL, told PTI.

Share Market Live

NSE

"Overall, coal and coke imports during the first 4 months (April-July) of 2018-19 stood at 78.79 MT, about 12 per cent higher than 70.33 MT recorded for the same period last year," it said.

The country's coal import in July increased by 42 per cent to 20.79 MT (provisional), over 14.64 MT (revised) in the same month previous year.

"Coal import (all types of coal) in July 2018 stood at 20.79 million tonnes (MT) (provisional), higher than 18.75 MT (revised) in June 2018 and also higher than 14.64 MT (revised) in July 2017," mjunction services said.

The increase in coal and coke imports in July is mainly due to a 12.9 percent growth (month-on-month) in non-coking coal shipments, it said.

There was also a marginal growth in coking coal imports in July on a monthly basis, it added.

"Steam coal imports went up in July as the power plants continued to face shortage despite the best efforts by domestic miners to mitigate the gap. Also, there was a slight easing of prices in the international markets and expectation of further corrections, going forward, prompted the buyers to take fresh positions," mjunction CEO Vinaya Varma said.

The government earlier said that during 2017-18 coal imports increased to 208.27 MT due to increase in demand by consuming sectors.

The country's coal import fell from 217.7 million tonnes in 2014-15 to 190.9 MT in 2016-17.

First Published:Sept 2, 2018 10:32 AM IST

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
US Dollar Improves Early Friday Ahead of Fed Appearances, State Unemployment
US Dollar Improves Early Friday Ahead of Fed Appearances, State Unemployment
Mar 22, 2024
07:38 AM EDT, 03/22/2024 (MT Newswires) -- The US dollar rose against its major trading partners early Friday, except for a decline versus the yen, ahead of a series of appearances by Federal Reserve officials that compensate for a lack of major US data. Fed Chairman Jerome Powell is scheduled to make opening remarks at a Fed Listens conference at...
Fed Chair Powell says pandemic has had lasting effects on economy
Fed Chair Powell says pandemic has had lasting effects on economy
Mar 22, 2024
(Reuters) - Federal Reserve Chair Jerome Powell on Friday opened a Fed Listens event on how Americans are experiencing the economy, saying the pandemic has had lasting effects and that to make good policy the U.S. central bank cannot rely only on macroeconomic data but needs to hear directly from people and businesses. He did not make any remarks about the...
US Congress scrambles to pass $1.2 trillion spending bill, midnight deadline looms
US Congress scrambles to pass $1.2 trillion spending bill, midnight deadline looms
Mar 22, 2024
WASHINGTON (Reuters) - The Republican-controlled U.S. House of Representatives and Democratic-majority Senate on Friday will scramble to beat a midnight government shutdown deadline by passing a $1.2 trillion bill keeping the government funded through September. If they succeed, it will end a more-than-six-month battle over the scope of Washington's spending for the fiscal year that began Oct. 1. If they...
U.S. companies' stock purchases via buybacks, M&A to hit 6-year high in 2024, Goldman says
U.S. companies' stock purchases via buybacks, M&A to hit 6-year high in 2024, Goldman says
Mar 22, 2024
(Reuters) - U.S. companies' purchases of domestic equities through more stock buybacks and corporate acquisitions will hit a six-year high of $625 billion this year, about as much as mutual funds and pension houses will offload, Goldman Sachs said. A surge in share buybacks and continued growth in cash mergers and acquisitions (M&A) will be the primary drivers of corporate...
Copyright 2023-2026 - www.financetom.com All Rights Reserved