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Wednesday, 07 December 22
INDIA'S STEEL MINISTRY SEEKS IMPORT TAX WAIVER FOR COKING COAL - SOURCES REUTERS REPORTED
India’s steel ministry has asked the finance ministry for a waiver of import tax on coking coal among a slew of raw materials, as it scrambles to fill a shortage of steelmaking ingredients, two government sources said on Tuesday.
The proposal to scrap levies ranging from 2.5% to 7.5% in the world’s second biggest producer of crude steel comes ahead of the national budget for 2023/24 set to be unveiled in February.
The ministry’s plan to scrap the tax on limestone, manganese ore, steel scrap, graphite electrodes, chrome ore, and ferro nickel, in addition to coking coal, has been sent to the finance ministry, said the sources, who spoke on condition of anonymity.
“The idea is to import raw materials, whichever is available, at the lowest possible import duty,” said one of the sources. “We have asked for a waiver, complete removal.”
If agreed, the tax waiver on the raw materials would cost about 37 billion rupees ($449 million), the sources said.
Spokespersons of the steel and finance ministries did not immediately reply to an email from Reuters to seek comment.
Imports of coking coal meet about 85% of India’s annual requirements of about 50 million to 55 million tonnes.
Australia is India’s top supplier, and a free trade pact between New Delhi and Canberra that takes effect from Dec. 29 allows duty-free imports of coking coal by India.
Stung by a sharp rise in global prices of coking coal, a key raw material in steelmaking, India has been aiming to diversify its purchases.
Indian steelmakers’ profits declined this year as global demand slowed and the government slapped an export tax on some steel products.
Last month, India scrapped export tax on some steel grades, but industry officials say it will take time to claw back some of the business lost in traditional export markets, such as Europe.
Source: Reuters
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Sunday, 08 January 23
ELEVATED COAL PRICE A DRAG ON MARGINS OF DOMESTIC BASE METAL PLAYERS: ICRA
The increased price of coal continue to be a drag on the margin of domestic base metal players with no immediate relief in sight, rating agency ICR ...
Monday, 02 January 23
CHINA’S COAL CONSUMPTION TO PEAK BY 2035: REPORT - REUTERS
China’s primary energy consumption is likely to peak at nearly 6.03 billion tonnes of standard coal between 2030 and 2035, refining giant Chi ...
Thursday, 29 December 22
INDIA'S COAL DEMAND LIKELY TO PEAK BETWEEN 2030-2035: MINISTER - ANI
The demand for coal in India will continue and is likely to peak between 2030-2035, Union Minister of Coal, Mines, and Parliamentary Affairs Pralha ...
Thursday, 29 December 22
RIO TINTO AND PARTNERS COULD RECEIVE AS MUCH AS $450M IN GOVERNMENT COMPENSATION FOR COAL PRICE CAP - THE GUARDIAN
Compensation payments for the Gladstone power plant remain the sticking point in the federal government’s coal price cap compensation negotia ...
Wednesday, 28 December 22
MARKET INSIGHT - INTERMODAL
The United Nations Conference on Trade and Development (UNCTAD) published a Global Trade Update on December 13th highlighting that global trade wou ...
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- Indogreen Group - Indonesia
- Thiess Contractors Indonesia
- Electricity Authority, New Zealand
- Rio Tinto Coal - Australia
- Global Coal Blending Company Limited - Australia
- Barasentosa Lestari - Indonesia
- Kapuas Tunggal Persada - Indonesia
- Petrochimia International Co. Ltd.- Taiwan
- Siam City Cement PLC, Thailand
- Semirara Mining and Power Corporation, Philippines
- Altura Mining Limited, Indonesia
- Jindal Steel & Power Ltd - India
- Parry Sugars Refinery, India
- Independent Power Producers Association of India
- Parliament of New Zealand
- Medco Energi Mining Internasional
- Semirara Mining Corp, Philippines
- GMR Energy Limited - India
- Bukit Asam (Persero) Tbk - Indonesia
- Ind-Barath Power Infra Limited - India
- Manunggal Multi Energi - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Rashtriya Ispat Nigam Limited - India
- Sree Jayajothi Cements Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kideco Jaya Agung - Indonesia
- Heidelberg Cement - Germany
- TeaM Sual Corporation - Philippines
- Baramulti Group, Indonesia
- Marubeni Corporation - India
- Mintek Dendrill Indonesia
- Renaissance Capital - South Africa
- Oldendorff Carriers - Singapore
- Posco Energy - South Korea
- Energy Development Corp, Philippines
- Bayan Resources Tbk. - Indonesia
- Intertek Mineral Services - Indonesia
- Mercuria Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- Miang Besar Coal Terminal - Indonesia
- Orica Australia Pty. Ltd.
- Electricity Generating Authority of Thailand
- Vizag Seaport Private Limited - India
- Singapore Mercantile Exchange
- Grasim Industreis Ltd - India
- Borneo Indobara - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Australian Coal Association
- Eastern Energy - Thailand
- Kepco SPC Power Corporation, Philippines
- Petron Corporation, Philippines
- Indian Oil Corporation Limited
- Globalindo Alam Lestari - Indonesia
- Kumho Petrochemical, South Korea
- The University of Queensland
- The State Trading Corporation of India Ltd
- Price Waterhouse Coopers - Russia
- Riau Bara Harum - Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Xindia Steels Limited - India
- Sinarmas Energy and Mining - Indonesia
- Vedanta Resources Plc - India
- Minerals Council of Australia
- SMC Global Power, Philippines
- Bangladesh Power Developement Board
- Energy Link Ltd, New Zealand
- Timah Investasi Mineral - Indoneisa
- Interocean Group of Companies - India
- Karbindo Abesyapradhi - Indoneisa
- Bhushan Steel Limited - India
- Sakthi Sugars Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Malabar Cements Ltd - India
- Agrawal Coal Company - India
- Banpu Public Company Limited - Thailand
- Indonesian Coal Mining Association
- Global Business Power Corporation, Philippines
- Economic Council, Georgia
- Coastal Gujarat Power Limited - India
- Leighton Contractors Pty Ltd - Australia
- PNOC Exploration Corporation - Philippines
- GN Power Mariveles Coal Plant, Philippines
- Standard Chartered Bank - UAE
- Chettinad Cement Corporation Ltd - India
- Latin American Coal - Colombia
- Edison Trading Spa - Italy
- Tata Chemicals Ltd - India
- Anglo American - United Kingdom
- Straits Asia Resources Limited - Singapore
- Bharathi Cement Corporation - India
- Kaltim Prima Coal - Indonesia
- GVK Power & Infra Limited - India
- LBH Netherlands Bv - Netherlands
- Bhatia International Limited - India
- ICICI Bank Limited - India
- Ministry of Transport, Egypt
- Ministry of Finance - Indonesia
- European Bulk Services B.V. - Netherlands
- TNB Fuel Sdn Bhd - Malaysia
- Therma Luzon, Inc, Philippines
- Savvy Resources Ltd - HongKong
- SN Aboitiz Power Inc, Philippines
- Directorate Of Revenue Intelligence - India
- Indian Energy Exchange, India
- Port Waratah Coal Services - Australia
- Maheswari Brothers Coal Limited - India
- The Treasury - Australian Government
- Essar Steel Hazira Ltd - India
- OPG Power Generation Pvt Ltd - India
- Antam Resourcindo - Indonesia
- Power Finance Corporation Ltd., India
- Uttam Galva Steels Limited - India
- Star Paper Mills Limited - India
- Iligan Light & Power Inc, Philippines
- ASAPP Information Group - India
- Coal and Oil Company - UAE
- CIMB Investment Bank - Malaysia
- Global Green Power PLC Corporation, Philippines
- Gujarat Sidhee Cement - India
- Binh Thuan Hamico - Vietnam
- Salva Resources Pvt Ltd - India
- London Commodity Brokers - England
- Simpson Spence & Young - Indonesia
- Makarim & Taira - Indonesia
- Chamber of Mines of South Africa
- VISA Power Limited - India
- Alfred C Toepfer International GmbH - Germany
- IEA Clean Coal Centre - UK
- Kobexindo Tractors - Indoneisa
- Attock Cement Pakistan Limited
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Bukit Makmur.PT - Indonesia
- Coalindo Energy - Indonesia
- Samtan Co., Ltd - South Korea
- Africa Commodities Group - South Africa
- Dalmia Cement Bharat India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Tamil Nadu electricity Board
- Larsen & Toubro Limited - India
- Bulk Trading Sa - Switzerland
- CNBM International Corporation - China
- Mjunction Services Limited - India
- Thai Mozambique Logistica
- Commonwealth Bank - Australia
- Formosa Plastics Group - Taiwan
- Gujarat Mineral Development Corp Ltd - India
- Pipit Mutiara Jaya. PT, Indonesia
- San Jose City I Power Corp, Philippines
- Orica Mining Services - Indonesia
- South Luzon Thermal Energy Corporation
- Jorong Barutama Greston.PT - Indonesia
- Pendopo Energi Batubara - Indonesia
- Mercator Lines Limited - India
- McConnell Dowell - Australia
- Krishnapatnam Port Company Ltd. - India
- Wood Mackenzie - Singapore
- Gujarat Electricity Regulatory Commission - India
- Sindya Power Generating Company Private Ltd
- Asmin Koalindo Tuhup - Indonesia
- Kalimantan Lumbung Energi - Indonesia
- Merrill Lynch Commodities Europe
- Cement Manufacturers Association - India
- Australian Commodity Traders Exchange
- Directorate General of MIneral and Coal - Indonesia
- Romanian Commodities Exchange
- New Zealand Coal & Carbon
- Central Electricity Authority - India
- Madhucon Powers Ltd - India
- AsiaOL BioFuels Corp., Philippines
- Sarangani Energy Corporation, Philippines
- Trasteel International SA, Italy
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement - Thailand
- Carbofer General Trading SA - India
- Planning Commission, India
- Bukit Baiduri Energy - Indonesia
- Toyota Tsusho Corporation, Japan
- India Bulls Power Limited - India
- International Coal Ventures Pvt Ltd - India
- Central Java Power - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Goldman Sachs - Singapore
- Deloitte Consulting - India
- GAC Shipping (India) Pvt Ltd
- Sojitz Corporation - Japan
- Offshore Bulk Terminal Pte Ltd, Singapore
- Indo Tambangraya Megah - Indonesia
- White Energy Company Limited
- Lanco Infratech Ltd - India
- Aboitiz Power Corporation - Philippines
- Aditya Birla Group - India
- Asia Pacific Energy Resources Ventures Inc, Philippines
- IHS Mccloskey Coal Group - USA
- PowerSource Philippines DevCo
- Karaikal Port Pvt Ltd - India
- Videocon Industries ltd - India
- Meenaskhi Energy Private Limited - India
- SMG Consultants - Indonesia
- Kartika Selabumi Mining - Indonesia
- Bahari Cakrawala Sebuku - Indonesia
- Ministry of Mines - Canada
- Wilmar Investment Holdings
- MS Steel International - UAE
- PTC India Limited - India
- Ceylon Electricity Board - Sri Lanka
- Eastern Coal Council - USA
- Bhoruka Overseas - Indonesia
- Ambuja Cements Ltd - India
- Cigading International Bulk Terminal - Indonesia
- Billiton Holdings Pty Ltd - Australia
- Jaiprakash Power Ventures ltd
- Neyveli Lignite Corporation Ltd, - India
- Georgia Ports Authority, United States
- Sical Logistics Limited - India
- Indika Energy - Indonesia
- Meralco Power Generation, Philippines
- Metalloyd Limited - United Kingdom
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