India fast catching up with China in coal imports
Delhi/Singapore, September 23
India is fast catching up with China in its thermal coal imports, as the world’s two biggest overseas buyers of the power generation fuel adjust purchases to align them with the varying trajectories of their economic growth.
India, widely seen as one of the last remaining major growth markets for the fuel, has stepped up buying from Indonesia and Russia after the invasion of Ukraine, which Moscow calls a special operation.
Shipments to China fall
- India has stepped up buying from Indonesia and Russia after the invasion of Ukraine, which Moscow calls a special operation
- India’s thermal coal imports are expected to rise 7% to 158 million tonnes in 2022, and further to 163 million tonnes in 2023
- In contrast, shipments of the fuel to China could fall to 182 million tonnes in 2022 and 176 million tonnes in 2023, from 246 million tonnes in 2021
India’s thermal coal imports are expected to rise 7% on year to 158 million tonnes in 2022, and a further 3% to 163 million tonnes in 2023, consultancy Wood Mackenzie said.
In contrast, shipments of the fuel resource into China, the world’s biggest importer, could fall to 182 million tonnes in 2022 and 176 million tonnes in 2023, from 246 million tonnes in 2021, Woodmac said.
India’s economy recovered from weak consumer demand to grow at the fastest pace in a year in the June quarter. On the other hand, China narrowly avoided contracting in the second quarter. — Reuters
