India aims to reduce its dependence on imports of met coal

Metallurgical coal demand for steelmaking exhibited a robust increase of 6% y-o-y, reaching 75 million tonnes (mnt) in CY'23 compared to 71 mnt in CY'22. Projections indicate a further surge in met coal demand to 82 mnt by CY'25.

In terms of consumption, metallurgical coal utilization in steelmaking witnessed a notable 7% y-o-y growth, totalling 76 mnt in CY'23. Given that India's dependence on imports is over 90%, increase in imports last year may appear to have been marginal. Coal import scenario India's imports of metallurgical coal in CY'23 stood