Coking Coal

SAIL, NMDC are down up to 9% in 1 month; is it time to buy steel stocks?

Domestic steel spread is at Rs 24,330 per tonne ( the lowest since March 2024) and the price of hot rolled coil (HRC) is at Rs 51,370 per tonne (the lowest since December 2020), said Dixit

India shelves plan to form consortium for coking coal import: Report

Some steelmakers believe they will cease to get a discount under their long-term deals if they negotiate through a consortium, reports stated

Bharat Coking Coal pays first-ever Rs 44 crore dividend to Coal India

Bharat Coking Coal Limited (BCCL), a subsidiary of Coal India Limited (CIL), paid its first-ever dividend of Rs 44.43 crore to its parent company on Sunday. This milestone follows BCCL's achievement of clearing its accumulated losses and reporting a net profit of Rs 1,564 crore for the financial year 2023-24, with a turnover of Rs 13,216 crore. BCCL chairman-cum-managing director Samiran Dutta formally handed over the dividend to CIL chairman P M Prasad at a ceremony. The dividend payment was approved by BCCL shareholders at its 53rd Annual General Meeting on August 1. Dutta attributed the company's strong financial performance and strategic progress to a consistent growth rate of 15 per cent over recent years.

India likely to get coking coal from Mongolia on Trial basis in July

The supplies would come to India via Chinese ports, but Indian authorities do not think New Delhi should entirely rely on China for steady supplies of coking coal from Mongolia, the sources said

Govt plans state-backed consortium for coking coal imports: Report

Indian steel companies consume around 70 million metric tons of coking coal annually, and imports constitute around 85% of the country's total requirement

Center plans to increase coking coal shipments from Russia: Report

Russian coking coal cargoes are already cheaper than Australian supplies, and some Russian suppliers are willing to lower their prices, said sources

Australia assures India of steady coking coal supplies amid shortage

Australia accounts for over half of India's coking coal imports of around 70 million metric tons a year

Centre to seek steady coking coal supplies from Australia for steel mills

Australia accounts for over half of India's coking coal imports of around 70 million metric tons a year

India's coal import surged 4% in September to 20.61 million tonnes

India's coal import increased by 4.3 per cent to 20.61 million tonnes (MT) in September compared to that of the corresponding month of previous fiscal. The country had imported 19.75 MT of coal in September last fiscal, according to data compiled by B2B e-commerce firm mjunction services limited. Of the total imports in September, non-coking coal imports stood at 13.89 MT, against 12.08 MT imported in September last financial year. Coking coal imports dropped to 4.59 MT from 4.88 MT imported in September FY23. However, the coal import in the April-September period of the current financial year declined to 124.53 MT from 135.68 MT in the year-ago period. During April-September period of FY24, non-coking coal import was at 77.65 MT, lower than 92.72 MT imported during the same period last financial year. Coking coal import was at 29.44 MT during April-September 2023-24, up against 28.05 MT recorded in the corresponding period last financial year. Commenting on the coal import tren

India to remain top importer of coking coal: ISA President Oommen

India will continue to remain the top importing nation for coking coal in the near future, industry body ISA said noting that the rising prices are affecting the domestic steel industry the most. Coking coal is a key raw material that is used to manufacture steel through the blast furnace route. The Indian steel industry is finding ways and means to explore sustainable pathways for coking coal usage by way of using various technologies. However, it is a long journey, Indian Steel Association (ISA) President Dilip Oommen said on Monday. "India in the near future will remain the largest coking coal export destination, one due to a significant increase in domestic steel demand and the other as China will depend more on its own resources," he said, addressing the ISA Coking Coal Summit in the national capital. India will continue to remain the top importer of coking coal as most of the Indian steel players have already planned new capacities in the BF-BOF route, Oommen said, adding tha

SAIL to increase coking coal purchases from Russia, expects 4 shipments

Australia accounts for more than half of India's coking coal imports of around 70 million metric tonnes a year. India also imports coking coal from Russia and the United States

India to remain export mkt for coking coal; rising prices a concern: ISA

India will continue to remain the largest coking coal export destination in the near future, industry body ISA said noting that the rise in prices is affecting the domestic steel industry the most. Coking coal is a key raw material that is used to manufacture steel through the blast furnace route. The Indian steel industry is finding ways and means to explore sustainable pathways for coking coal usage by way of using various technologies. However, it is a long journey, Indian Steel Association (ISA) President Dilip Oommen said on Monday. "India in the near future will remain the largest coking coal export destination, one due to a significant increase in domestic steel demand and the other as China will depend more on its own resources," he said, addressing the ISA Coking Coal Summit in the national capital. Indian steel players have already planned new capacities in the BF-BOF route, Oommen said, adding that in India, BF-BoF (blast furnace) accounts for 46 per cent of the producti

Indian steel companies plan price rises as coking coal costs surge

Steel mills are likely to raise rates by $25 to $50 a metric ton by December, said the officials, who did not wish to be named as they are not authorised to speak to media

SAIL expects four coking coal ships of 75,000 tonnes each from Russia

SAIL said it was working on doubling coking coal production capacity in International Coal Ventures Private Limited (ICVL) at Mozambique

Coking coal rates pushing up steel prices in India: JSP MD Bimlendra Jha

Steel prices in India are registering an upward trend due to "rapidly" increasing rates of key input material coking coal, industry executive Bimlendra Jha said. Coking coal and iron ore are the two main raw materials used to manufacture steel. While iron ore is available in substantial quantity in India, steel players are bound to meet 90 per cent of their coking coal requirement through imports from countries like Australia and South Africa. "Coking coal prices have increased rapidly (which are) currently trading at USD 341 per tonne CFR (cost and freight) India, from USD 230 a tonne in June-July 2023," Jha, Managing Director of Jindal Steel and Power (JSP), told PTI. The steel industry is facing an upward movement in prices because there has been a dramatic shift in coking coal prices, so the industry has no option but to pass on the cost to consumers, he said in reply to a question on increasing rates of steel in India. As per markets research firm SteelMint India, the cost of

JSW Steel eyes coking coal assets to beef up raw material security

Target is to have 25% linkages in the next few yrs: Acharya

CIL coking coal production sees quantum leap of 8MT, rises by 17% in FY23

The production of coking coal by Coal India Ltd (CIL) rose by 17.2 per cent year-on-year (y-o-y) to 54.6 million tonnes (MT) in 2022-23. The state-owned miner had produced 46.6 MT coking coal during the preceding 2021-22 fiscal, it said in a statement. "The quantum leap was a whopping 8 MT. This assumes significance at a time when the Ministry of Coal has asked CIL to elevate the output of this category of coal to 105 MT by 2030 in a bid to reduce its imports and forex outgo," it said Subsidiary companies Bharat Coking Coal Ltd (BCCL) and Central Coal Fields (CCL) together accounted for almost the entire output of 54.3 MT in 2022-23. While BCCL produced nearly 33.7 MT during FY23, CCL contributed 20.6 MT. Coking coal is an important feedstock in steel making. In India, its mineable reserves are scarce and also its quality inadequacy for direct use in steel making necessitates washing. During FY23 coking coal imports were to the tune of 56 MT, down by 1.1 MT compared to 57.1 MT in

Coal India boosts coking coal output, production up 17% to 54.6 MT

Coal India Ltd, the world's largest coal miner, on Thursday reported a 17.2 per cent rise in production of coking coal, helping cut on imports of the fuel that is an essential input for production of iron and steel. In a statement, Coal India said coking coal production has risen to 54.6 million tonnes in 2022-23, up 17.2 per cent year-on-year growth compared to 46.6 million tonnes in FY'22 (April 2021 to March 2022). "The quantum leap in the year was a whopping 8 million tonnes," it said, adding the output was 107.3 per cent of the target. This assumes significance at a time when the Ministry of Coal has asked the company to raise the output of this category of coal to 105 million tonnes by 2030 in a bid to reduce its imports and forex outgo. BCCL and CCL, the two Jharkhand-based subsidiaries of CIL, are major producers of coking coal and together accounted for almost the entire output of 54.3 million tonnes in 2022-23. "BCCL alone produced nearly 62 per cent or 33.7 million tonn

Coking coal, iron ore may not be viable for steel making in future: Scindia

Union minister Jyotiraditya Scindia on Tuesday urged the domestic steel industry to adopt low-carbon emitting steel-making processes, while cautioning that key raw material coking coal and iron ore may not be a viable option in the future based on an ESG parameter. The comments have come at a time when India moves to double its steel-making capacity to 300 million tonnes (MT). "From the second largest producer of steel, we must also become responsible producers of steel in the world. There will come a time in the near distant future when today's raw materials be it iron ore or coking coal will no longer be a viable option not necessarily from a cost structure parameter but from an environmental, social, and governance (ESG) parameter," Scindia said at an event here. The minister said that environmental concerns could arise in future and the government and the private sector will have to work together to prepare for that "eventuality today". "The industry can look for options like t

Collaborate with institutions to find an alternative of coking coal: Goyal

The availability of coking coal is a major challenge for the domestic steel sector and the industry should collaborate with eminent institutions like IITs to undertake research to find alternate solutions, Commerce and Industry Minister Piyush Goyal said on Tuesday. The industry needs to become self-reliant on coking coal to remove India's dependency on a few countries for the key raw material for steel makers, he added. "Coking coal is a matter of concern for the industry. We can look at investments and alternatives. You can find solutions for its alternatives. I would urge the industry to research with our IITs or the Indian Institute of Science. It is the need of the hour to become self-sufficient," Goyal said here at a steel conclave. The government is preparing a 'coking coal mission' to diversify the sources of key steel-making raw material, for which the country is heavily dependent on imports. India imports around 90 per cent of its coking coal requirement. Coal with high a