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

Amazon Achieves 100% Renewable Energy

Amazon has achieved its goal of powering its global operations with 100% renewable energy, seven years ahead of its original target set for 2030, as reported. This significant milestone underscores Amazon's commitment to sustainability and its leadership in corporate renewable energy adoption. Amazon's journey towards 100% renewable energy began with a series of strategic investments in solar and wind projects around the world. These projects include large-scale wind farms and solar arrays that contribute substantial amounts of clean energy to the grid. By reaching this goal early, Amazon has ..

Next Story
Infrastructure Energy

Faster Renewable Expansion Needed: IRENA

The International Renewable Energy Agency (IRENA) has emphasized the urgent need for an accelerated expansion of renewable energy to meet global 2030 targets, as reported by the Economic Times. According to IRENA, current efforts are insufficient, and a substantial increase in the deployment of renewable energy technologies is crucial to achieving climate goals and ensuring sustainable development. IRENA's latest report highlights that despite progress in renewable energy adoption, the pace of growth must triple to align with the targets set in the Paris Agreement. The report stresses that ren..

Next Story
Infrastructure Energy

SECI Announces Green Hydrogen Tender

SECI's Green Hydrogen Tranche-II tender is designed to attract investments and partnerships in the green hydrogen sector. The tender aims to promote the development of green hydrogen projects across the country, leveraging India's vast renewable energy resources. This move aligns with the government's National Hydrogen Mission, which focuses on creating a sustainable hydrogen economy and reducing carbon emissions. The tender seeks proposals from companies and consortiums capable of establishing large-scale green hydrogen production facilities. These facilities will utilize renewable energy sou..

Hi There!

"Now get regular updates from CW Magazine on WhatsApp!

Join the CW WhatsApp channel for the latest news, industry events, expert insights, and project updates from the construction and infrastructure industry.

Click the link below to join"

+91 81086 03000

Join us Telegram