Coal India's Output Declines Amid Focus on Clearing Stockpiles
- Output in May declines 4.3% y/y to 40.74 million tons
- Shipments during the month rise 1.9% y/y to 46.4 million tons
A worker unloads a basket of coal onto a coal heap at a coal wholesale market in Mumbai, India.
Photographer: Dhiraj Singh/BloombergThis article is for subscribers only.
Coal India Ltd. reported a year-on-year production decline for the second straight month and an increase in shipments, reflecting attempts by the world’s biggest producer to cut inventories.
Output fell 4.3 percent from a year earlier to 40.74 million metric tons, the lowest in three years for the month of May, the company said in a stock-exchange filing. Shipments rose 1.9 percent to 46.4 million tons.