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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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Tuesday, 15 November 22
CHINA SEES RISING COAL STORAGE AMID SUPPLY PUSH - XINHUA
Coal stockpiles at China’s power plants have seen considerable increases, ensuring energy supply for the winter, the country’s energy r ...
Tuesday, 15 November 22
SEABORNE THERMAL COAL PRICES START TO EASE, BUT PROCESS IS UNEVEN - REUTERS
Prices for seaborne thermal coal have started to drop as fears of a winter energy crunch ease, but the rate of decline has varied across the differ ...
Thursday, 10 November 22
INDIA: THERMAL PLANTS HAVE ADEQUATE COAL STOCKS AT 25.6 MILLION TONNES, SAYS GOVT - IANS
The coal stock with domestic dry fuel-based power plants, as on October 31, was 25.6 million tonnes, the government said, adding that the availabil ...
Tuesday, 08 November 22
OUTLOOK ON CHINA’S WEAKENED BASIC MATERIALS SECTOR CLOUDED BY POLICY SWINGS - FITCH RATINGS
Fitch Ratings expects basic materials demand in China to improve qoq in 4Q22, driven by seasonally higher construction activity, solid infrastructu ...
Friday, 04 November 22
CHINA EXPANDS COAL TERM CONTRACTS TO ALL MINES TO STABILIZE MARKET - REUTERS
China has expanded long-term thermal coal supply contracts for 2023 to all coal mines and asked power utilities to source more of their demand thro ...
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- Pipit Mutiara Jaya. PT, Indonesia
- Binh Thuan Hamico - Vietnam
- Indo Tambangraya Megah - Indonesia
- Vizag Seaport Private Limited - India
- IEA Clean Coal Centre - UK
- Wood Mackenzie - Singapore
- Global Coal Blending Company Limited - Australia
- Sojitz Corporation - Japan
- Mintek Dendrill Indonesia
- Vijayanagar Sugar Pvt Ltd - India
- Bank of Tokyo Mitsubishi UFJ Ltd
- Siam City Cement PLC, Thailand
- Energy Development Corp, Philippines
- Bukit Asam (Persero) Tbk - Indonesia
- Tata Chemicals Ltd - India
- Bangladesh Power Developement Board
- Energy Link Ltd, New Zealand
- Directorate Of Revenue Intelligence - India
- Cement Manufacturers Association - India
- PetroVietnam Power Coal Import and Supply Company
- Alfred C Toepfer International GmbH - Germany
- SN Aboitiz Power Inc, Philippines
- Wilmar Investment Holdings
- Bahari Cakrawala Sebuku - Indonesia
- Global Green Power PLC Corporation, Philippines
- South Luzon Thermal Energy Corporation
- Marubeni Corporation - India
- Coalindo Energy - Indonesia
- International Coal Ventures Pvt Ltd - India
- Indian Oil Corporation Limited
- SMG Consultants - Indonesia
- White Energy Company Limited
- Edison Trading Spa - Italy
- Barasentosa Lestari - Indonesia
- Chamber of Mines of South Africa
- GVK Power & Infra Limited - India
- Antam Resourcindo - Indonesia
- Medco Energi Mining Internasional
- Bukit Makmur.PT - Indonesia
- Electricity Authority, New Zealand
- Orica Mining Services - Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Altura Mining Limited, Indonesia
- Thai Mozambique Logistica
- Sindya Power Generating Company Private Ltd
- Simpson Spence & Young - Indonesia
- Parry Sugars Refinery, India
- SMC Global Power, Philippines
- Malabar Cements Ltd - India
- Deloitte Consulting - India
- The State Trading Corporation of India Ltd
- Star Paper Mills Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Coastal Gujarat Power Limited - India
- Karaikal Port Pvt Ltd - India
- Goldman Sachs - Singapore
- Bhoruka Overseas - Indonesia
- Sakthi Sugars Limited - India
- Mercator Lines Limited - India
- Intertek Mineral Services - Indonesia
- The Treasury - Australian Government
- Tamil Nadu electricity Board
- Banpu Public Company Limited - Thailand
- Madhucon Powers Ltd - India
- New Zealand Coal & Carbon
- Posco Energy - South Korea
- Global Business Power Corporation, Philippines
- PNOC Exploration Corporation - Philippines
- PTC India Limited - India
- Coal and Oil Company - UAE
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
- Orica Australia Pty. Ltd.
- MS Steel International - UAE
- Bharathi Cement Corporation - India
- McConnell Dowell - Australia
- GN Power Mariveles Coal Plant, Philippines
- Economic Council, Georgia
- TNB Fuel Sdn Bhd - Malaysia
- Electricity Generating Authority of Thailand
- Eastern Energy - Thailand
- Kalimantan Lumbung Energi - Indonesia
- European Bulk Services B.V. - Netherlands
- Australian Commodity Traders Exchange
- ASAPP Information Group - India
- Indian Energy Exchange, India
- GMR Energy Limited - India
- Carbofer General Trading SA - India
- Africa Commodities Group - South Africa
- Ind-Barath Power Infra Limited - India
- Heidelberg Cement - Germany
- Bhatia International Limited - India
- LBH Netherlands Bv - Netherlands
- Offshore Bulk Terminal Pte Ltd, Singapore
- Thiess Contractors Indonesia
- Straits Asia Resources Limited - Singapore
- CIMB Investment Bank - Malaysia
- Jorong Barutama Greston.PT - Indonesia
- Anglo American - United Kingdom
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Uttam Galva Steels Limited - India
- Siam City Cement - Thailand
- Bulk Trading Sa - Switzerland
- Xindia Steels Limited - India
- CNBM International Corporation - China
- Pendopo Energi Batubara - Indonesia
- Maharashtra Electricity Regulatory Commission - India
- Kideco Jaya Agung - Indonesia
- Kepco SPC Power Corporation, Philippines
- Petrochimia International Co. Ltd.- Taiwan
- Lanco Infratech Ltd - India
- Sinarmas Energy and Mining - Indonesia
- Videocon Industries ltd - India
- Rashtriya Ispat Nigam Limited - India
- Ceylon Electricity Board - Sri Lanka
- Savvy Resources Ltd - HongKong
- Petron Corporation, Philippines
- Kartika Selabumi Mining - Indonesia
- Agrawal Coal Company - India
- Price Waterhouse Coopers - Russia
- Kaltim Prima Coal - Indonesia
- Metalloyd Limited - United Kingdom
- Planning Commission, India
- Sree Jayajothi Cements Limited - India
- Therma Luzon, Inc, Philippines
- Vedanta Resources Plc - India
- Neyveli Lignite Corporation Ltd, - India
- Central Java Power - Indonesia
- Eastern Coal Council - USA
- Chettinad Cement Corporation Ltd - India
- Sarangani Energy Corporation, Philippines
- Directorate General of MIneral and Coal - Indonesia
- Indogreen Group - Indonesia
- Independent Power Producers Association of India
- Formosa Plastics Group - Taiwan
- Attock Cement Pakistan Limited
- Interocean Group of Companies - India
- Ministry of Mines - Canada
- Central Electricity Authority - India
- Power Finance Corporation Ltd., India
- Aboitiz Power Corporation - Philippines
- Salva Resources Pvt Ltd - India
- Samtan Co., Ltd - South Korea
- Maheswari Brothers Coal Limited - India
- PowerSource Philippines DevCo
- Merrill Lynch Commodities Europe
- Gujarat Sidhee Cement - India
- Ambuja Cements Ltd - India
- Minerals Council of Australia
- Georgia Ports Authority, United States
- The University of Queensland
- Semirara Mining Corp, Philippines
- GAC Shipping (India) Pvt Ltd
- Trasteel International SA, Italy
- Manunggal Multi Energi - Indonesia
- Bukit Baiduri Energy - Indonesia
- Rio Tinto Coal - Australia
- Meralco Power Generation, Philippines
- Timah Investasi Mineral - Indoneisa
- Latin American Coal - Colombia
- IHS Mccloskey Coal Group - USA
- Miang Besar Coal Terminal - Indonesia
- Semirara Mining and Power Corporation, Philippines
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Grasim Industreis Ltd - India
- Oldendorff Carriers - Singapore
- AsiaOL BioFuels Corp., Philippines
- Renaissance Capital - South Africa
- Kapuas Tunggal Persada - Indonesia
- Jindal Steel & Power Ltd - India
- Mjunction Services Limited - India
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Dalmia Cement Bharat India
- Larsen & Toubro Limited - India
- Bayan Resources Tbk. - Indonesia
- Riau Bara Harum - Indonesia
- Toyota Tsusho Corporation, Japan
- Australian Coal Association
- Commonwealth Bank - Australia
- India Bulls Power Limited - India
- Kumho Petrochemical, South Korea
- Jaiprakash Power Ventures ltd
- Indika Energy - Indonesia
- Meenaskhi Energy Private Limited - India
- Makarim & Taira - Indonesia
- Leighton Contractors Pty Ltd - Australia
- Singapore Mercantile Exchange
- TeaM Sual Corporation - Philippines
- Aditya Birla Group - India
- Borneo Indobara - Indonesia
- Standard Chartered Bank - UAE
- Karbindo Abesyapradhi - Indoneisa
- Indonesian Coal Mining Association
- Cigading International Bulk Terminal - Indonesia
- London Commodity Brokers - England
- Romanian Commodities Exchange
- Globalindo Alam Lestari - Indonesia
- Gujarat Electricity Regulatory Commission - India
- Port Waratah Coal Services - Australia
- Mercuria Energy - Indonesia
- ICICI Bank Limited - India
- Krishnapatnam Port Company Ltd. - India
- Kohat Cement Company Ltd. - Pakistan
- Ministry of Finance - Indonesia
- VISA Power Limited - India
- Bhushan Steel Limited - India
- OPG Power Generation Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Sical Logistics Limited - India
- San Jose City I Power Corp, Philippines
- Ministry of Transport, Egypt
- Billiton Holdings Pty Ltd - Australia
- Asmin Koalindo Tuhup - Indonesia
- Essar Steel Hazira Ltd - India
- Baramulti Group, Indonesia
- Parliament of New Zealand
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