Covid-19 impacts India’s coal imports

In the wake of the coronavirus outbreak, the nation’s coal imports have seen a 14% reduction since last year

The coronavirus outbreak hasn’t spared the coal industry in India – compared to last year’s imports of 19.82 million tonnes, India registered a decline to 17.01 million tons in February 2020.

According to Vinaya Varma, MD and CEO of mjunction, a B2b e-commerce company that publishes research reports on coal and steel verticals: “In line with expectations, coal import volumes staged a decline during the month of February due to increased domestic availability, volatility in non-coking coal prices as well as uncertainty arising from the coronavirus epidemic.

“Going forward, prices may see a downward bias, while demand for import may remain subdued, for much the same reason.”

A new report also suggests the virus will see the clean economy, including renewable power, energy storage, electric vehicles, heating, cooling and the circular economy ‘be hit hard’.

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