China’s imports of coal from the seaborne market surged again in July, providing a stark contrast to a fourth consecutive monthly decline for India.
It’s possible that the market should be paying more attention to China’s growing imports rather than India’s downturn.
The different dynamics in the world’s two largest importers of the polluting fuel are largely a reflection of juxtaposing domestic policies.
China is restricting domestic coal output and shutting inefficient mines, which, coupled with a decline in hydropower output, has boosted demand for imports.
India, which gave back the title of the world’s top coal importer to China last year, has a stated policy of reducing coal imports to zero and is boosting domestic production and efficiency of distribution toward that end.Read More…
Credit By : ET Energy World
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