India to Import 8.7 Percent More Coal in Next Two Years

The Economic Times reported that from 2013 to 2014, India is expected increase its coal imports by 8.7 percent, to 35 million metric tons, as its steelmaking capacity rises.

As quoted in the market news:

India, the world’s fourth-largest steel producer, is expected to add around 5 million to 6 million tonnes of steel-making capacity in this fiscal year to end-March, said an official at JSW Steel.

“In the coming years, coking coal imports will go up because of the new capacities that are coming up,” said the official at the country’s third-largest steelmaker, who did not wish to be identified citing company policy.

Click here to read the full report from The Economic Times.