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India's thermal coal output seen growing 4.3% annually till 2028 - Fitch

Coal News - Published on Thu, 23 May 2019

Image Source: SteelGuru
Fitch Solutions said that India's thermal coal output is projected to grow at an average annual rate of 4.3% by 2028. In absolute volume terms, China and India will have the largest impact on the global coal market balance. The surge in Chinese imports that occurred over 2015-2017 as a result of dramatic domestic production curbs was a temporary phenomenon. Fitch said that "We forecast thermal coal production in China to stagnate at 0.5% growth per annum from 2019 onwards, but not decline, as new coal mines in Inner Mongolia, Shaanxi and Shanxi provinces offset mine closures in the rest of the country."

It estimates that production by state-owned Coal India, which accounts for around 90% of domestic output, will underwhelm the government expectations.

It added that "We forecast India's thermal coal output to grow by an average annual rate of 4.3% over 2019-2028."

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Posted By : Rabi Wangkhem on Thu, 23 May 2019
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