Fuelled by steel production, coking coal imports may climb to 58 mt by 2023

The domestic supply of coking coal is expected to be tepid despite a CAGR projection of 9.5 per cent in the comparable period

Imports of coking coal in the country is seen rising to 58 million tonnes (mt) by 2023, appreciating 23 per cent over the 47-mt recorded in 2017-18.

Import of the key steel making ingredient will be fuelled by growth in production of steel. Also, tightness in domestic supplies is likely to be another factor. A report by ratings agency CRISIL forecasts the demand for metallurgical coal in the country to reach 65 mt by 2023, up from 51 mt in FY18, marking a CAGR (compound annual growth rate) of five per cent.

By contrast, the domestic supply of coking coal is expected