Global coal prices at record high, to increase India’s import bill

The ongoing conflict between Ukraine and Russia is likely to have a bearing on the supply of thermal coal, while direct or indirect sanctions from the western countries are also expected to put an upward pressure on its prices.

Currently, international coal prices are at their lifetime high at above $400 per tonne.

“With Russia’s invasion of Ukraine, there is an anticipation of lower supply of coal in the global market, thereby driving up the prices in the international market. Also another factor could be the rise in the price of alternate fuels like crude and natural gas,” said Rajnath Yadav, Research Analyst at Choice Broking.