Date: 05/08/2022

India’s coal imports from Russia seeing surge

With India leveraging discounted Russian coal and banks adapting to facilitate trade in currencies other than the US dollar, data shows that the influx of Russian material -- which has been increasing significantly -- has eaten into the Indian import market of high-CV US, South African and Australian coal, and experts believe that the trend is likely to continue, as per a report by S&P Global Commodity Insights.
The report added: “According to data from S&P Global Commodities at Sea, Russia has far surpassed Australia and the US to become the third-largest supplier of thermal coal to India in July, following Indonesia and South Africa. The data shows that 1.9 million mt of Russian thermal coal was discharged at Indian ports in July, which is nearly three times the amount supplied in July 2021. Thermal coal imports from South Africa fell 9% to 2 million mt, while supplies from Australia and the US dropped 29% to 1 million mt and 27% to 800,000 mt, respectively, over the same period.”
Source: London