Coal India, the world’s biggest producer of the fuel, sees rising international prices helping it shrink swollen stockpiles and gain more buyers as domestic customers shun imports in favor of local supplies.
Increasing Australian and South African prices have made imports more expensive, which may boost demand for domestic coal, said marketing director S.N. Prasad. Thermal coal in Australia jumped about 25% in the past two months, while South African coal prices rose about 15% during the period, buoyed by production cuts and a recovery in imports from China, the biggest consumer.
