Cold wave may push Jan coal imports up by half

NEW DELHI Wed Jan 9, 2013 6:57pm IST

Laborers work in a railway coal yard on the outskirts of Ahmedabad June 15, 2010. REUTERS/Amit Dave

Laborers work in a railway coal yard on the outskirts of Ahmedabad June 15, 2010.

Credit: Reuters/Amit Dave

Related Topics

NEW DELHI (Reuters) - India's coal imports may rise by half to around 16 million tonnes in January from a year earlier, trade sources said on Wednesday, helped by a spurt in heating demand due to a severe cold wave.

India's northern region has been witnessing the coldest weather in at least 44 years, which has led to the death of over 100 homeless people, according to an aid group.

Traders currently expect January imports to be up 10-15 percent from December, estimating 14.2 million tonnes last month and 13.8 million in November. Year-ago January imports were 10.7 million tonnes.

"Imports have been on the rise since October to meet the higher energy demand during winter. The trend is expected to get a big push in the first quarter (January-March), aided by the current cold conditions," said Pranav Khurana, a freight analyst with Louis Dreyfus Commodities.

India imported 90 million tonnes of thermal and coking coal between April and November, up 26.8 percent from a year earlier.

Thermal or steam coal, the fuel mainly used by power producers, accounted for nearly 70 percent of coal shipments in the first eight months of the 2012/13 fiscal year.

The trend indicates that India could import about 100 million tonnes of thermal coal alone in this fiscal year.

India's coal ministry expects production of 574.40 million tonnes in 2012/13, up 6.4 percent from a year earlier.

The gap between India's domestic coal supply and demand will be around 192 million tonnes in the fiscal year to March 2013, according to the coal ministry.

In 2011/12, Asia's third-largest economy imported about 103 million tonnes of thermal and coking coal, a nearly 50 percent jump from a year earlier.

(Editing by Jo Winterbottom and Jane Baird)

FILED UNDER:
Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

  • Most Popular
  • Most Shared

REUTERS SHOWCASE

Earnings Season

Earnings Season

Reliance Q4 sales rise, refining margin narrows.  Read 

Innovative Solution

Innovative Solution

Turning smog into jewels - a Dutch designer's solution to Beijing's pollution.  Video 

Insider Trading

Insider Trading

Rajaratnam's brother loses bid to dismiss insider trading charges.  Full Article 

Literary Giant Dies

Literary Giant Dies

Mourning and memories in Gabriel Garcia Marquez's languid hometown.  Full Article 

S&P on India

S&P on India

S&P: India's ratings to depend on next govt econ, fiscal policies.  Full Article 

Ambitious Aim

Ambitious Aim

In green car race, Toyota adds muscle with fuel-cell launch.  Full Article 

Bond Market

Bond Market

A star abroad, RBI boss riles bond traders at home  Full Article 

Reuters India Mobile

Reuters India Mobile

Get the latest news on the go. Visit Reuters India on your mobile device.  Full Coverage