Over the past three years, India’s imports of metallurgical coal from Russia have tripled, reaching 15.1 million tonnes in 2023-24, while imports from Australia have decreased. Russia’s share in India’s metallurgical coal imports has risen from 8% in 2021-22 to 21% in 2023-24, while Australia’s market share dropped from 77% to 55% during the same period. The surge in imports from Russia is attributed to lower prices, providing cost benefits to domestic steel manufacturers. However, long-term projections suggest a potential decline in Russian imports due to anticipated export taxes and increased logistics costs.
India’s Metallurgical Coal Imports Surge from Russia, Decline from Australia
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