Govt Enforces ‘Melt and Pour’ Rule for All Steel in Public Projects Nippon Steel expected to finalize U.S. Steel acquisition at $55 per share NMDC Limited reports a 38% drop in Q4 FY24 consolidated net profit RINL to Raise $23 Million Through Land Sales Amid Crisis
Thermal coal imports increased for the fourth consecutive month in April 2024, reaching a five-month high as thermal power plants (TPPs) stocked up on the critical commodity ahead of rising summer temperatures and forecasts of prolonged heat waves this month.
India's imports of thermal coal, which is mostly used by the power industry, increased by roughly 10% year over year and 11% month over month to 16.23 million tonnes (MT) in January, according to statistics from energy analytics firm Kpler.
The first quarter of 2024 saw the largest thermal coal shipments in the previous two years. According to Kpler data, imports increased by 23% year over year from 34.85 MT in January to March of 2024 to 42.95 MT.
Compared to Q1 2022, the inbound shipments rose even higher by 36% from 31.51 MT. Kpler’s Lead Major Dry bulk analyst, Alexis Ellender, pointed out that the outlook for Indian coal demand remains firm as hot weather drives up thermal coal consumption.
Kpler data shows that thermal coal imports climbed to a five-month high of 16.23 MT in April, up by 1.50 MT year over year. April also included the two highest weeks for inbound shipments since November 2023, both above 4 MT.
According to government data, coal stocks at domestic coal-based (DCB) power plants stood at 36.05 MT on February 1, rising to 41.77 MT a month later and then to 47.34 MT and 45.40 MT on April 1 and May 1, respectively. At the end of March, coal stocks at DCB plants stood at 47.30 MT, declining to 45.48 MT on April 30 and 44.45 MT on May 17.
Thermal power generation in April was up by 10.69% y-o-y, while hydropower generation was down by 8.43% y-o-y. Cumulative thermal power generation in April stood at 123,504 gigawatt hours (GWH) in April 2024, while hydro power generation totalled 7,993 GWH.
Also Read : GAIL plans to launch its first green hydrogen project in April Government approves CIL to invest ₹5,607 cr in 2 thermal power projects
Top official of Russia's state-run atomic energy corporation Rosatom said that discussions are under...
Business 12-Mar-2024
Bangladesh might make another deal for LNG (liquefied natural gas) for a long time and purchase more...
Asia 08-Feb-2024
Iron ore futures surged to their highest level in three months, as traders welcomed China's latest s...
Ferrous 21-May-2024
China has increased its purchase of scrap copper as smelters look alternative raw materials to offse...
China 21-Jun-2024
Adani Green Energy Twenty Four B, a subsidiary of Adani Green Energy, has completed an additional 44...
Large Corporate 05-Mar-2024
Direct tax demands totalling ₹18-₹20 lakh crore are now being litigated in several areas, including...
Taxation 16-Feb-2024