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Friday, 08 October 21
COAL SHORTAGE MAY LEAD TO RISE IN STEEL PRICES IN COMING MONTHS: JSPL MD - PTI
 Steel prices are expected to increase in the coming months as companies are buying coal at three times the rates a month ago, said a top industry executive on Wednesday.
A tonne of coal, which was in the range of Rs 4,000-6,000 a tonne, is now costing Rs 8,000-Rs 12,000 a tonne, Jindal Steel and Power Ltd (JSPL) Managing Director V R Sharma told PTI in a telephonic interaction.
He made the remarks while responding to a question related to the supply of coal in India.
“Steel in India at present is in the range of Rs 50,000-Rs 55,000 a tonne. Shortage of coal has led to an increase in its prices that will have an impact on steel which may also go up due to this unprecedented rise,” he said.
Sharma did not elaborate as to what extent the steel prices may go up in the future.
Sharma, who has over 35 years of industry experience, said India consumes 1,200 million tonnes of thermal coal or steam coal per year.
However, state-owned Coal India Ltd (CIL) produces 800 MT annually, a shortfall of 400 MT.
The domestic steel industry alone consumes 150 MT of coal per year, he said adding that for 120 MT or 80 per cent of the requirement, the players remain dependent on CIL. Steel players use coal as fuel to produce power to run plants and produce steel through the directly reduced iron (DRI) route.
“CIL is asking the players to come through e-auction to buy the coal. One month earlier, per mega/cal of coal was between 0.70 paise to Re 1. Yesterday (on Tuesday), it was at Rs 2.8 per mega/cal. Nearly three times higher,” Sharma said.
It means a tonne of coal, which was earlier in the range of Rs 4,000-6,000 per tonne, is now at Rs 8,000-Rs 12,000 per tonne, he added.
Sharma further said the crisis can be managed if CIL increased its production. The company must produce 100 MT coal per month to meet the annual demand of 1,200 MT, which comes from various industries like power, aluminium and copper.
India has coal reserves of 350 billion tonnes and CIL does not produce even one billion tonnes, he said.
“This is the best time for CIL to exceed the expectations of the country in this need of the hour. The increasing output will not only stabilise the prices but also reduce dependence on imports and make India Atmanirbhar in coal,” Sharma said.
Source: Press Trust of India
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Friday, 15 October 21
GLOBAL STEEL DEMAND GROWTH DOWNGRADED FOR 2021 DUE TO CHINA - WORLD STEEL ASSOCIATION
The World Steel Association (worldsteel) today released an update of its Short Range Outlook (SRO) for 2021 and 2022. worldsteel forecasts that ste ...
Thursday, 14 October 21
SPIKING COAL PRICES: DON’T BLAME THE ENERGY TRANSITION - IEEFA
Volatility highlights urgency for renewables-based energy solutions
“Energy crisis.” The phrase evokes nearly-forgotten ...
Thursday, 14 October 21
EIA FORECASTS U.S. COAL PRODUCTION TOTALS 588 MMST IN 2021, UP 53 MMST YOY
U.S. coal production in EIA's forecasts totals 588 million short tons (MMst) in 2021, 53 MMst more than in 2020.
According ...
Wednesday, 13 October 21
COAL PRICES ARE ROARING BACK AMID A GLOBAL ENERGY CRUNCH - SYDNEY MORNING HERALD
Soaring coal prices have placed Australia’s mining and energy exports on track to reach a record $349 billion this year evenas the value of t ...
Wednesday, 13 October 21
CHINA ISN'T THE ONLY HUGE ASIAN ECONOMY WITH A COAL SHORTAGE NOW - CNBC
China is not the only Asian giant grappling with an energy crunch — India is also teetering on the edge of a power crisis.
Mos ...
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- Independent Power Producers Association of India
- Price Waterhouse Coopers - Russia
- Binh Thuan Hamico - Vietnam
- Petron Corporation, Philippines
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- Mintek Dendrill Indonesia
- Xindia Steels Limited - India
- PTC India Limited - India
- Rashtriya Ispat Nigam Limited - India
- Posco Energy - South Korea
- Indian Oil Corporation Limited
- New Zealand Coal & Carbon
- Global Coal Blending Company Limited - Australia
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- Metalloyd Limited - United Kingdom
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- Power Finance Corporation Ltd., India
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- GVK Power & Infra Limited - India
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- Singapore Mercantile Exchange
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- GMR Energy Limited - India
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- The University of Queensland
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- Uttam Galva Steels Limited - India
- IEA Clean Coal Centre - UK
- Ambuja Cements Ltd - India
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- McConnell Dowell - Australia
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- Bayan Resources Tbk. - Indonesia
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- Georgia Ports Authority, United States
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- Coalindo Energy - Indonesia
- Banpu Public Company Limited - Thailand
- Global Business Power Corporation, Philippines
- Kideco Jaya Agung - Indonesia
- Bharathi Cement Corporation - India
- Salva Resources Pvt Ltd - India
- Jindal Steel & Power Ltd - India
- Antam Resourcindo - Indonesia
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- Coal and Oil Company - UAE
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- Sarangani Energy Corporation, Philippines
- Coastal Gujarat Power Limited - India
- LBH Netherlands Bv - Netherlands
- Minerals Council of Australia
- White Energy Company Limited
- Jaiprakash Power Ventures ltd
- Pipit Mutiara Jaya. PT, Indonesia
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- SMC Global Power, Philippines
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- Bulk Trading Sa - Switzerland
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- Australian Coal Association
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- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Formosa Plastics Group - Taiwan
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- Bangladesh Power Developement Board
- Attock Cement Pakistan Limited
- Kalimantan Lumbung Energi - Indonesia
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- PowerSource Philippines DevCo
- SMG Consultants - Indonesia
- Renaissance Capital - South Africa
- Tamil Nadu electricity Board
- Borneo Indobara - Indonesia
- Krishnapatnam Port Company Ltd. - India
- International Coal Ventures Pvt Ltd - India
- Indika Energy - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Aboitiz Power Corporation - Philippines
- Vizag Seaport Private Limited - India
- Indian Energy Exchange, India
- Malabar Cements Ltd - India
- Manunggal Multi Energi - Indonesia
- Madhucon Powers Ltd - India
- Thai Mozambique Logistica
- Videocon Industries ltd - India
- Electricity Generating Authority of Thailand
- Siam City Cement - Thailand
- Economic Council, Georgia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Pendopo Energi Batubara - Indonesia
- Intertek Mineral Services - Indonesia
- Bukit Baiduri Energy - Indonesia
- Merrill Lynch Commodities Europe
- Semirara Mining and Power Corporation, Philippines
- The State Trading Corporation of India Ltd
- IHS Mccloskey Coal Group - USA
- Sree Jayajothi Cements Limited - India
- Sindya Power Generating Company Private Ltd
- Maharashtra Electricity Regulatory Commission - India
- Barasentosa Lestari - Indonesia
- Africa Commodities Group - South Africa
- Mercator Lines Limited - India
- Kumho Petrochemical, South Korea
- Mercuria Energy - Indonesia
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- Kepco SPC Power Corporation, Philippines
- Latin American Coal - Colombia
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- Timah Investasi Mineral - Indoneisa
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- Wood Mackenzie - Singapore
- Vedanta Resources Plc - India
- Planning Commission, India
- Straits Asia Resources Limited - Singapore
- Star Paper Mills Limited - India
- Eastern Energy - Thailand
- Australian Commodity Traders Exchange
- Leighton Contractors Pty Ltd - Australia
- European Bulk Services B.V. - Netherlands
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