India, Russia to cooperate on coking coal

India and Russia have agreed to a cooperation on coking coal, a move that will "benefit the entire steel sector by reducing their input cost", the Indian government said on 14 July.

July 17, 2021 Stu Turley Coal, International News
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“The activities involved in the cooperation are aimed at diversifying the source of coking coal,” the Indian government said but did not provide further specifics on the nature of the cooperation.

India’s coking coal imports stood at 25.05mn t in January-May, up by 36pc on the year, with domestic steel production recovering from the effects of Covid-19 last year. Import volumes retreated in May on high fob Australia metallurgical coal prices and sporadic lockdowns in India from the second Covid-19 wave that hit the country towards the end of March.

The Argus premium low-volatile hard coking coal index stood at $210.35/t on 15 July, compared with $109.80/t on 16 July 2020.

India imported 76,000t of coking coal from Russia in May, up by 125pc on the year. January-May imports from Russia stood at 468,000t, up by 10pc on the year.

India’s crude steel output rose to 8.52mn t in May, up by 3pc from April and by 36pc from May 2020.

Source: Argus

About Stu Turley 3348 Articles
Stuart Turley is President and CEO of Sandstone Group, a top energy data, and finance consultancy working with companies all throughout the energy value chain. Sandstone helps both small and large-cap energy companies to develop customized applications and manage data workflows/integration throughout the entire business. With experience implementing enterprise networks, supercomputers, and cellular tower solutions, Sandstone has become a trusted source and advisor.   He is also the Executive Publisher of www.energynewsbeat.com, the best source for 24/7 energy news coverage, and is the Co-Host of the energy news video and Podcast Energy News Beat. Energy should be used to elevate humanity out of poverty. Let's use all forms of energy with the least impact on the environment while being sustainable without printing money. Stu is also a co-host on the 3 Podcasters Walk into A Bar podcast with David Blackmon, and Rey Trevino. Stuart is guided by over 30 years of business management experience, having successfully built and help sell multiple small and medium businesses while consulting for numerous Fortune 500 companies. He holds a B.A in Business Administration from Oklahoma State and an MBA from Oklahoma City University.

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