Indian imports of Russian coal have declined while U.S. shipments have risen in the three months ending in May, data from coal consultancy Bigmint showed, which traders attributed to Russian supplies becoming less competitive. Russia’s exports of all types of coal to India over the period fell 22.4% from a year earlier to 6.76 million metric tons, Bigmint’s data showed. U.S. exports rose 14.4% to 6.68 million tons in the same period. The decline in Indian imports of Russian coal was driven by a 67% plunge year-on-year in shipments of thermal coal, used mainly for power generation. Purchases of steelmaking grades such as coking coal, anthracite and pulverized coal injection (PCI) coal rose during the period, the Bigmint data showed. India is Russia’s second-largest coal market after China and the decrease follows fresh western sanctions on Russia because of the war in Ukraine. However, buyers downplayed their impact and said Russia thermal coal was less attractive without lower discounts amid a drop in global prices.
