NEW DELHI: The Indian authorities will request Australia to take measures to make sure regular provides of coking coal, 4 sources stated, as a part of efforts to assist metal mills reeling from falling provides and rising costs of the important thing uncooked materials in steel-making.
Nagendra Nath Sinha, essentially the most senior official at India’s federal Ministry of Metal, will meet Philip Inexperienced, Australia’s excessive commissioner to India, and the 2 sides are more likely to focus on India’s want for coking coal, stated the sources, who included two Indian authorities officers and two trade executives.
Sinha and Inexperienced are more likely to meet on Friday, stated the sources, who declined to be recognized as a result of they weren’t authorised to talk to media.
Australia accounts for over half of India’s coking coal imports of round 70 million metric tons a yr.
The metal ministry and the Australian Excessive Fee didn’t instantly reply to e-mails looking for remark.
As erratic climate circumstances hit coking coal provides from Australia, Indian metal mills have been attempting to show to different international locations equivalent to Russia to reap the benefits of cheaper costs. Nonetheless, main Indian producers depend on Australia, particularly for some particular grades of the commodity.
Some home producers such because the government-backed Metal Authority of India (SAIL) wish to improve coking coal purchases from Russia because of cheaper costs, SAIL Chairman Amarendu Prakash stated final week.
Apart from Australia and Russia, India additionally imports coking coal from the US.
Final month, costs for Australian coking coal jumped 50% to over $350 a metric ton because of elements equivalent to upkeep outages, decrease than typical provides from Queensland, and a slower practice community.
Indian mills have been seeking to increase costs of varied grades of metal because of rising coking coal prices, officers instructed Reuters final month.
Nagendra Nath Sinha, essentially the most senior official at India’s federal Ministry of Metal, will meet Philip Inexperienced, Australia’s excessive commissioner to India, and the 2 sides are more likely to focus on India’s want for coking coal, stated the sources, who included two Indian authorities officers and two trade executives.
Sinha and Inexperienced are more likely to meet on Friday, stated the sources, who declined to be recognized as a result of they weren’t authorised to talk to media.
Australia accounts for over half of India’s coking coal imports of round 70 million metric tons a yr.
The metal ministry and the Australian Excessive Fee didn’t instantly reply to e-mails looking for remark.
As erratic climate circumstances hit coking coal provides from Australia, Indian metal mills have been attempting to show to different international locations equivalent to Russia to reap the benefits of cheaper costs. Nonetheless, main Indian producers depend on Australia, particularly for some particular grades of the commodity.
Some home producers such because the government-backed Metal Authority of India (SAIL) wish to improve coking coal purchases from Russia because of cheaper costs, SAIL Chairman Amarendu Prakash stated final week.
Apart from Australia and Russia, India additionally imports coking coal from the US.
Final month, costs for Australian coking coal jumped 50% to over $350 a metric ton because of elements equivalent to upkeep outages, decrease than typical provides from Queensland, and a slower practice community.
Indian mills have been seeking to increase costs of varied grades of metal because of rising coking coal prices, officers instructed Reuters final month.
