New Delhi: India's imports of raw and processed coal, or coke, rose 19 per cent to 21 million tonnes in April from a year earlier as low prices drew buyers, according to provisional data from commodities trader mjunction.
Imports into the world's third-biggest coal buyer, however, were about 12 per cent lower than the 24 million tonnes for March, mjunction chief executive and managing director Viresh Oberoi said in an email.
"The situation is likely to improve in May as consumers would start stocking for the upcoming monsoons, while continued soft trend in prices might encourage them to procure higher quantities of imported coal," Mr Oberoi said.
Government data on imports generally comes with a lag and varies with those from private firms like mjunction, which collects data from a greater number of ports and includes additional coal grades.
Imports into the world's third-biggest coal buyer, however, were about 12 per cent lower than the 24 million tonnes for March, mjunction chief executive and managing director Viresh Oberoi said in an email.
"The situation is likely to improve in May as consumers would start stocking for the upcoming monsoons, while continued soft trend in prices might encourage them to procure higher quantities of imported coal," Mr Oberoi said.
Government data on imports generally comes with a lag and varies with those from private firms like mjunction, which collects data from a greater number of ports and includes additional coal grades.
© Thomson Reuters 2015
Essential Business Intelligence, Sharp Market Insights, Practical Personal Finance Advice, Daily Fuel, Gold and Silver Prices and Latest Stories — On NDTV Profit.
