JSW Steel rises 2% on gas supply worries HSBC raises Tata Steel target to ₹250 British Steel to supply 120,000 mt billet to Nigeria ₹3,200 crore Tata Steel EAF starts in Ludhiana
✔️ Coking coal import traffic down 9% in April-Feb FY 2024-25.
✔️ Reduced steel production and reliance on domestic coal cited as key factors.
✔️ Market expects recovery in coal demand with infrastructure growth.
India’s coking coal import port traffic dropped by 9% year-on-year in the April-February period of FY 2024-25, according to the Ministry of Ports, Shipping and Waterways. The decline reflects reduced demand from domestic steelmakers amid weak global steel prices and production cuts.
During the 11-month period, India’s major ports handled approximately 49.8 million tonnes of coking coal, down from 54.7 million tonnes in the same period last year. The slowdown was particularly visible at major ports like Paradip, Visakhapatnam, and Dhamra, which saw a sharp reduction in import volumes.
Industry experts attribute the decline to lower steel production and higher reliance on domestic coal reserves. “Steel mills have adjusted production levels in response to weaker global demand and shrinking margins,” a senior industry analyst said.
Despite the decline, market participants expect a rebound in the coming months as steel production ramps up to meet infrastructure and construction demand in the next fiscal year.
Also Read : India reaches out to critical mineral producers for processing technology Germany seeks total ban on Russian steel
China's property market collapse has left its steelmakers with an oversupply that they are offloadin...
Ferrous 07-May-2024
An official announced that Kalyani Steel Limited has proposed to invest ₹26,000 crore to establish a...
Mid Corporate 13-Feb-2024
The Southern Railway Construction Organisation will soon take up the ‘final location survey&rs...
Construction 11-Jan-2024
In order to receive protection in the form of higher import duties, domestic manufacturers have appr...
Ferrous 31-May-2024
According to a Crisil Market Intelligence and Analytics analysis, the Indian cement sector is set to...
Construction 24-Jan-2024
India's ArcelorMittal Nippon Steel (AMNS) has taken over a 16 million metric tonne per annum (MMTPA)...
Logistics 18-Apr-2024