SAIL expands Russian coking coal imports amid shortage and rising costs
COAL & MINING

SAIL expands Russian coking coal imports amid shortage and rising costs

The Chairman of Steel Authority of India, Amarendu Prakash, announced that the company intends to increase its procurement of coking coal from Russia due to its more affordable prices. Prakash stated that the company is expecting four shipments, each with a capacity of 75,000 tons, in the quarter ending December.

Coking coal, a crucial raw material in the steelmaking process, is currently facing a shortage. Prakash explained to reporters during an industry conference that Russian coking coal is more cost-effective when compared to the coal sourced from Australia. Australia presently provides over half of India's coking coal imports, which total around 70 million metric tons annually. Apart from Russia, India also imports coking coal from the United States.

Since April, SAIL, the largest state-owned steel producer in the country, has received eight shipments from Russia. Due to the escalating import expenses related to coking coal, Indian steel companies are considering raising the prices of various steel grades, as reported by Reuters last month.

The Chairman of Steel Authority of India, Amarendu Prakash, announced that the company intends to increase its procurement of coking coal from Russia due to its more affordable prices. Prakash stated that the company is expecting four shipments, each with a capacity of 75,000 tons, in the quarter ending December. Coking coal, a crucial raw material in the steelmaking process, is currently facing a shortage. Prakash explained to reporters during an industry conference that Russian coking coal is more cost-effective when compared to the coal sourced from Australia. Australia presently provides over half of India's coking coal imports, which total around 70 million metric tons annually. Apart from Russia, India also imports coking coal from the United States. Since April, SAIL, the largest state-owned steel producer in the country, has received eight shipments from Russia. Due to the escalating import expenses related to coking coal, Indian steel companies are considering raising the prices of various steel grades, as reported by Reuters last month.

Next Story
Infrastructure Energy

KEC Secures Rs 10, 380 Mn Substation Order in Saudi Arabia

KEC International Ltd., a global infrastructure EPC major, and an RPG Group company, has secured a new order worth Rs 10,380 million for the Design, Supply and Installation of a 380 kV GIS Substation in Saudi Arabia.Vimal Kejriwal, MD & CEO, KEC International Ltd., commented, “We are delighted with the successive order wins in our T&D business. In a landmark achievement, we have secured our largest ever substation order. This prestigious order in the Middle East has widened our portfolio and strengthened our presence in the region. With this strategic win, our year-to-date or..

Next Story
Infrastructure Urban

Central Bank of India executes first fully digital SCF deal on PSB Xchange

In a major advancement for India’s banking sector, Central Bank of India (CBI) has successfully completed the country’s first fully digital supply chain finance (SCF) transaction on PSB Xchange—a unified multi-lender platform launched by PSB Alliance. PSB Xchange is designed to connect public and private sector banks, NBFCs, and fintechs with corporates and their channel partners to facilitate supply chain finance and small business loans. The transaction marks the first time a fintech-originated corporate lead has been seamlessly processed through the PSB Xchange ecosystem. The lead fl..

Next Story
Infrastructure Energy

Atlanta Electricals secures Rs 1,835 Mn transformer order from BNC Power

Atlanta Electricals Limited (“Atlanta”) has secured an order worth Rs 1,835 million from BNC Power Projects Ltd for the supply of extra high voltage (EHV) transformers and a bus reactor for its Pugal site. The contract includes a mix of 315 MVA, 400 KV and 100 MVA, 132 KV transformers along with a 400 KV bus reactor. The project scope encompasses design, manufacturing, testing, and supply to the project site. Deliveries will be sequenced following engineering and drawing approvals, offering multi-quarter execution visibility and ensuring a steady production run-rate. The order will be ex..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

Advertisement

Advertisement

Talk to us?