Russian met coal imports significantly triplicates during the past three fiscal years
Russia now imports 73.2 million tonnes (MT) of metallurgical coal into India, up from about 8% in 2021–2022, according to a statement by research firm Big Mint.
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A research organization reports that imports of metallurgical coal from Russia have increased threefold in the last three years to around 15.1 million tonnes in 2023–2024, primarily as a result of cheaper pricing, while imports from Australia have decreased.
Russia’s imports of metallurgical coal increased to 11.3 MT in 2022–2023; this accounted for 16% of the 69.9 MT of met coal imports in that year. 15.1 MT, or 21% of all met coal imports of 73.2 MT, came from Russia in 2023–24.
Australia, a significant exporter of met coal to India, experienced a decrease in the country’s imports of the product. 50.7 MT of met coal, or 77% of India’s total imports, came from Australia in FY22.
Iron ore and met coal, also known as metallurgical coal, are necessary components in the manufacturing of steel.
“Cost-benefit” is the primary driver for the increase in metallurgical coal imports from Russia, according to BigMint analysts. Due to low pricing, domestic steel producers are paying less for imports from Russia, according to a BigMint analyst.
In an earlier interview with PTI, SAIL Chairman Amarendu Prakash stated that during the first two quarters of FY24, the company imported about eight shipments of coking coal, each weighing 75,000 tonnes and totaling 600,000 tonnes, from Russia.
Tata Steel has also experimented with using Russian coking coal to make steel. India can meet 50% of its requirement for coking coal from Russia, according to V R Sharma of Jindal Steel and Power (JSP).
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