"Following the sanctions imposed by European countries, Russia has been struggling to sell its coal and is offering hefty discounts. In fact, India's imports from Russia jumped nearly 80% in the last fiscal year ending Mar. In the long-term though, the share of Russian shipments in overall coal imports would continue to grow.Meanwhile, India was the top importer of Chinese met coke in the first half of 2022, fetching China an average income of $553 per tonne.China exported 650,000 tonnes of met coke to India in January to June, CoalMint said citing customs data. Sluggish domestic demand in China, higher Australian coking coal prices, lack of anti-dumping duty on Chinese coke and India's increased crude steel production led to the increased import.However, China's met coke exports in the second half of this year may decline as global coking coal prices plunged. Indian steel demand has also turned sluggish and a subdued Indian steel demand outlook is likely to weigh on met coke requirements.

Source: Daily Nation August 04, 2022 08:46 UTC