Coal India’s Shipments Sink to Four-Year Low Amid Covid Crisis
- Demand from industry has slumped due to sweeping lockdowns
- Stockpiles at Coal India mines have swollen to 99 million tons
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Coal India Ltd.’s shipments touched a four-year low in the 12 months through March, after the pandemic crushed demand for the commodity.
The state-run miner sold 573.8 million tons of coal during the period, 1.3% less than a year earlier, according to a filing on Thursday. That reflects lower consumption as lockdowns brought industrial activity to a standstill. Inventories at power plants then expanded, weighing on Coal India’s sales.