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India has eclipsed China and Japan as the world's top importer of seaborne coking coal, with imports expected to exceed 100 million metric tonnes (MMT) by 2030, according to S&P Global Commodity Insights. This increase is consistent with the nation's ambitious objectives to increase steel manufacturing capacity in order to fulfil the growing demand for infrastructure.
In response to rising infrastructure spending, which is expected to increase by 11% from 2024-25, India intends to boost steel manufacturing capacity by 71% to 300 MMT per year by 2030. The infrastructure industry, particularly building and construction, is estimated to account for 35-40% of steel demand.
Despite efforts to boost domestic coking coal production and reduce reliance on imports, the need for seaborne coking coal continues to grow, underpinned by expanding steel production capacities.
This growth trajectory places India at the forefront of global coking coal markets, significantly influencing market dynamics, trade flows, and pricing in the coming decade.
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