- Write by:
-
Monday, March 28, 2022 - 13:09:23
-
597 Visit
-
Print
Mining News Pro - India is leaning toward continuing to import coking coal from Russia, the steel minister said on Sunday, seeming to buck a global trend to shun Moscow over its invasion of Ukraine.
“We are moving in the direction of importing coking coal from Russia,” Ramchandra Prasad Singh told a conference in New Delhi.
India plans to double imports of Russian coking coal, a key ingredient in making steel, the minister said. He said the country had imported 4.5 million tonnes but did not indicate the period he was referring to.
Western countries and Japan have slapped unexpectedly heavy sanctions on the government of President Vladimir Putin and people associated with him. India, a major buyer of Russian goods from commodities to weapons, has abstained from several key United Nations votes condemning the Feb. 24 invasion.
“Smooth supplies” from Russia of coking coal have been affected, Singh said, in an apparent reference to the war. He did not elaborate.
Vessels carrying at least 1.06 million tonnes of coking coal, mainly used for steelmaking, and thermal coal used primarily for electricity generation, are set to deliver the fuel to Indian ports this month, the most since January 2020, data from consultancy Kpler showed.
Russia, typically India’s sixth-largest supplier of coking and thermal coal, could start offering more competitive prices to Chinese and Indian buyers as European and other customers spurn Russia because of sanctions, traders say.
The trade could also be boosted by a rouble-rupee trading arrangement, they said.
Short Link:
https://www.miningnews.ir/En/News/620949
Oxford Economics Australia has released data showing mine maintenance spending may be hitting its peak. But what does it ...
The Philippines said on Friday it aimed to add three more processing plants in the effort to develop a downstream ...
Copper climbed above $10,000 a ton as predictions for tighter global supplies and rising consumption in electric ...
Iron ore futures fell to their lowest in more than two weeks, pressured by an inventory accumulation at Chinese ports ...
London-based Savannah Resources will if necessary ask Portugal’s government to authorize compulsory land acquisitions ...
India is considering offering incentives to encourage private companies to set up lithium processing facilities, as New ...
China issued draft rules on Wednesday to regulate its lithium battery market, after rapid expansion in the sector hit ...
Imports of iron ore by China, the world’s biggest buyer, in 2024 are expected to be around 1.17 to 1.18 billion metric ...
China’s central bank added 60,000 troy ounces of gold to its reserves in April, official data showed on Tuesday, ...
No comments have been posted yet ...