Russia becomes India’s third-largest coal supplier in July, data shows

Russia historically became the sixth largest coal supplier to India, behind Indonesia, South Africa, Australia and the United States, with Mozambic and Colombia alternately appearing in the top five.

India expects the approval of the new central bank to allow commodity payments in Indian rupees to provide a large philosopher for bilateral trade with Russia. India’s imports from Russia have jumped almost five times to more than $ 15 billion since Russia invaded Ukraine.

India, the second largest producer in the world, importers and coal consumers, historically imported more coal coal used mainly in making steel from Russia, with Australia into other main suppliers.

However, steep discounts offered by Russian suppliers to Indian consumers in recent months have provided higher thermal coal purchases incentives used mainly in power plants mainly because global prices have been traded in the highest which are almost recorded because Western sanctions suffocate traditional trade.

Thermal coal imports from Russia jumped 70.3 percent in July, compared to June, to record 1.29 million tons, while coal imports rose more than two -thirds to more than 280,000 tons, coal printing data showed.

Indonesia is the main supplier, while South Africa is slightly in front of Russia, data shows. Coal imports that are higher than Russia are mainly driven by cement producers and steel makers, said two Indian traders.

Indian coal imports as a whole, including the shipping of Antrasite and PCI coal, nearly 10pc lower in July with 23.8 million tons, compared to the import record of 26.29 million tons in June, coal mold data shows.