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 >
Redbook US Same-Store Sales Rise in Week Ended July 27
Redbook US Same-Store Sales Rise in Week Ended July 27
Jul 30, 2024
08:55 AM EDT, 07/30/2024 (MT Newswires) -- Redbook US same-store sales rose by 4.5% from a year earlier in the week ended July 27 after a 4.9% year-over-year increase in the previous week. Redbook noted sales slowed due to the heat wave in most parts of the country and due to the mid-July doldrums. Retailers are trying to clear summer...
US Treasury Lowers Q3 Borrowing Estimate
US Treasury Lowers Q3 Borrowing Estimate
Jul 29, 2024
03:12 PM EDT, 07/29/2024 (MT Newswires) -- The US Treasury said Monday that it expects to borrow $740 billion in Q3, a lower borrowing estimate than the $847 billion it announced in its previous statement on April 29. The reason for the decrease in the borrowing estimate was lower redemptions from the Federal Reserve and a higher start-of-the-quarter cash balance....
Temasek Pours $30B Into US Amid Booming Economic Growth
Temasek Pours $30B Into US Amid Booming Economic Growth
Jul 30, 2024
In a recent move, Singapore’s state investor, Temasek, has declared its intention to pump as much as $30 billion into the U.S. market over the next five years. What Happened: Temasek’s investment strategy will primarily target sectors such as healthcare, financial services, and technology, Reuters reported on Tuesday. The U.S.’s leading position in the field of artificial intelligence (AI) has...
Investors Rush Into Junk Corporate Bonds As Fed Rate Cut Speculation Goes Wild: High-Yield Credit ETF Sees Record Monthly Inflows
Investors Rush Into Junk Corporate Bonds As Fed Rate Cut Speculation Goes Wild: High-Yield Credit ETF Sees Record Monthly Inflows
Jul 29, 2024
The riskiest segments of the corporate fixed income market are experiencing a massive influx of investor capital in recent weeks as traders bet the Federal Reserve will cut interest rates at its September meeting and continue with a swift rate-cut cycle. U.S. corporate bonds rated CCC or lower — which are at the bottom of the credit rating scale and...
Copyright 2023-2025 - www.financetom.com All Rights Reserved