NEW DELHI, Feb 22:
The country’s coal demand, which had remained weak earlier in the current financial year, is poised for a boost in the coming days on the back of a sharp turnaround in electricity consumption, an industry expert said on Sunday.
Vinaya Varma, Managing Director of mjunction services ltd — a B2B e-commerce platform and joint venture of SAIL and Tata Steel — said after successive months of negative growth in October and November, power demand staged a strong recovery in December with a 6.3 per cent growth.
“The tempo has been maintained with power consumption continuing to rise in January as well, due to a harsh winter and general improvement in economic activities,” Varma said.
“This, we believe, will boost coal demand in the coming days,” he added.
The country’s coal sector, after hitting a record one-billion-tonne production milestone, is staring at a surprise demand slowdown, forcing major public firms and new commercial miners to rethink expansion plans amid rising uncertainties.
Against this challenging landscape, mjunction will organise the 19th Indian Coal Markets Conference, “Coalosseum: The Coal Battleground” from February 24-25 in Kolkata.
During the conference, top 36 eminent speakers from coal, power, cement, sponge iron, steel, trading, exchange, and logistics sectors will address various issues facing the coal and energy vertical in the country. (PTI)
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