India’s thermal coal imports extend fall as economy slows
NEW DELHI – India’s thermal coal imports have dropped for three months running, their longest sustained fall in over two years, as an economic slowdown stifles demand from key industrial consumers.
The slowing in imports reflects wider weakness in the Indian economy, projected to expand by just 5% in 2019/2020 fiscal year, the lowest pace in 11 years.
“A demand downfall across sectors has had a downward cascading effect on everything including coal imports,” said Puneet Gupta, founder of online coal marketplace Coalshastra.
Source: iol.co.za