India's major coking coal suppliers such as Australia and the US reduced their imports by 27 % and 11 % respectively, encouraging Indian consumers to seek alternative sources. Along with Russia, Canada also increased its supply by 28%.
However, despite the increase in shipments from some countries, the total amount of coking coal supplied to India fell 12% to 4.59 million tonnes in April from 5.22 million tonnes in March. Analysts expect this trend to continue as price volatility leads buyers to make cautious decisions, ongoing elections in the country and reduced demand for steel.
Given rising prices, Indian blast furnace steelmakers are actively looking to experiment with different coal blends in coke production to adapt to market fluctuations. In response to these challenges, the authorities have announced plans to support local coking coal producers.
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