Coal Import Declines In July Over Sluggish Demand, Availability Of High Stock

India's coal import dropped 16.4% to 21.08 million tonnes (MT) in July due to sluggish demand during monsoon and availability of high stock. The country's coal import was 25.23 MT in the year-ago period. India's imports during the April-July period of the current fiscal year also declined to 97.49 million tonnes over 100.48 million tonnes in the year-ago period, according to Mjunction Services, a B2B e-commerce platform and a joint venture between Tata Steel and SAIL. 'There was a decline in volumes due to sluggish demand during THE monsoon and the high stock available in the system. We expect to see an uptick in demand before the festive season starting end-September,' mjunction MD & CEO Vinaya Varma said.