1 min read.Updated: 02 Jan 2020, 10:00 AM ISTRajesh Kumar Singh, Bloomberg
Industrial slowdown has hurt demand of coal
Prolonged rains have also pushed up output from hydroelectric dams
Coal India Ltd. posted the first decline in annual shipments in at least six years as demand from power producers weakened and its production was hit by heavy rains earlier in 2019. Shipments fell 3.8% in 2019 from a year ago to 580.8 million tons, according to Bloomberg calculations based on data from the state-run company dating back to 2013. Production slipped 2.2% to 582.8 million tons, the data showed.