Coal imports may fall this fiscal on high global prices
Coal imports may fall this fiscal due to high global prices triggered by the floods in Australia, the coal minister Sriprakash Jaiswal said on Thursday, which could impact power generation and earnings of steel, power and cement firms.
China will cut coal imports this year as the cost of domestic supplies declines, Sanford C. Bernstein & Co. said in a report.Net purchases from overseas will drop 47 percent to 150 million metric tons this year from 281 million in 2012, Bernstein said in the e-mailed note today.