Morning Bites (part 2)

🪨 India plans to cut coal imports for its power sector by 30% in 2026, Reuters reports, citing sources familiar with the plan. The Indian government is pushing utilities (which imported ~50mnt of coal in 2025) to rely more heavily on domestic supply and reduce imports by at least 15mnt this year. Overall, local authorities aim to replace 20-30% of imported coal with domestic supply at most power plants

In our view, the target looks overly ambitious, given the short implementation period. However, the initiative underpins our longer-term cautious view on thermal coal

India accounted for ~15% of global thermal coal imports in 2025

#coal