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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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Sunday, 30 January 22
ENDGAME FOR NEW COAL POWER PROJECTS? - IEEFA INDIA
Retired coal units must be replaced only by assets that can provide grid flexibility
Reportedly, an expert committee appointed by th ...
Thursday, 27 January 22
2022 - A YEAR OF REBALANCING FOR METALS AND MINING - WOOD MACKENZIE
If 2021 was the year of rebound for metals and mining (M&M) commodities, then 2022 is shaping as the year of rebalance, says Wood Mackenzie, a ...
Wednesday, 26 January 22
MARKET INSIGHT - INTERMODAL
While it is logical that most of the S&P reports of the first weeks of the year are linked to very limited activity as reflected in the weekly ...
Wednesday, 26 January 22
INDONESIA: DME PROJECT IS ECONOMICALLY VIABLE AS STUDY DEMONSTRATES
The government is encouraging downstream coal processing or increase in coal added value, for example by turning coal into Dimethyl Ether (DME) to ...
Wednesday, 26 January 22
COMMODITY PRICES COULD SOAR IF THE RUSSIA-UKRAINE CRISIS ESCALATES - ING
It appears that a number of commodity markets are starting to at least price in some geopolitical risk around the growing tension between Russia an ...
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- Wood Mackenzie - Singapore
- Eastern Energy - Thailand
- Samtan Co., Ltd - South Korea
- Central Electricity Authority - India
- Bulk Trading Sa - Switzerland
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Vizag Seaport Private Limited - India
- ICICI Bank Limited - India
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- IHS Mccloskey Coal Group - USA
- Krishnapatnam Port Company Ltd. - India
- Madhucon Powers Ltd - India
- Holcim Trading Pte Ltd - Singapore
- Planning Commission, India
- Sakthi Sugars Limited - India
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- Baramulti Group, Indonesia
- Anglo American - United Kingdom
- London Commodity Brokers - England
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Kobexindo Tractors - Indoneisa
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- New Zealand Coal & Carbon
- Ministry of Transport, Egypt
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- Sical Logistics Limited - India
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- Tata Chemicals Ltd - India
- Antam Resourcindo - Indonesia
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- Global Coal Blending Company Limited - Australia
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- Sinarmas Energy and Mining - Indonesia
- San Jose City I Power Corp, Philippines
- Africa Commodities Group - South Africa
- TNB Fuel Sdn Bhd - Malaysia
- Indian Oil Corporation Limited
- Marubeni Corporation - India
- PowerSource Philippines DevCo
- The University of Queensland
- Karaikal Port Pvt Ltd - India
- Leighton Contractors Pty Ltd - Australia
- Coal and Oil Company - UAE
- Independent Power Producers Association of India
- Straits Asia Resources Limited - Singapore
- Alfred C Toepfer International GmbH - Germany
- ASAPP Information Group - India
- Petrochimia International Co. Ltd.- Taiwan
- Heidelberg Cement - Germany
- PNOC Exploration Corporation - Philippines
- Iligan Light & Power Inc, Philippines
- Port Waratah Coal Services - Australia
- Eastern Coal Council - USA
- Georgia Ports Authority, United States
- Deloitte Consulting - India
- Economic Council, Georgia
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- VISA Power Limited - India
- Kapuas Tunggal Persada - Indonesia
- Dr Ramakrishna Prasad Power Pvt Ltd - India
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- Electricity Generating Authority of Thailand
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- GN Power Mariveles Coal Plant, Philippines
- Aditya Birla Group - India
- Edison Trading Spa - Italy
- Bayan Resources Tbk. - Indonesia
- Ind-Barath Power Infra Limited - India
- Globalindo Alam Lestari - Indonesia
- Larsen & Toubro Limited - India
- Star Paper Mills Limited - India
- GVK Power & Infra Limited - India
- Therma Luzon, Inc, Philippines
- European Bulk Services B.V. - Netherlands
- Uttam Galva Steels Limited - India
- Rashtriya Ispat Nigam Limited - India
- Medco Energi Mining Internasional
- Electricity Authority, New Zealand
- Kepco SPC Power Corporation, Philippines
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- Parry Sugars Refinery, India
- Global Green Power PLC Corporation, Philippines
- Banpu Public Company Limited - Thailand
- Latin American Coal - Colombia
- Kumho Petrochemical, South Korea
- Directorate General of MIneral and Coal - Indonesia
- Malabar Cements Ltd - India
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Kideco Jaya Agung - Indonesia
- Kaltim Prima Coal - Indonesia
- Bukit Asam (Persero) Tbk - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Intertek Mineral Services - Indonesia
- Merrill Lynch Commodities Europe
- Sindya Power Generating Company Private Ltd
- Bukit Baiduri Energy - Indonesia
- Bank of Tokyo Mitsubishi UFJ Ltd
- India Bulls Power Limited - India
- Jaiprakash Power Ventures ltd
- Romanian Commodities Exchange
- Gujarat Sidhee Cement - India
- Barasentosa Lestari - Indonesia
- Standard Chartered Bank - UAE
- Ministry of Finance - Indonesia
- Commonwealth Bank - Australia
- Indogreen Group - Indonesia
- Siam City Cement PLC, Thailand
- Pipit Mutiara Jaya. PT, Indonesia
- Price Waterhouse Coopers - Russia
- Tamil Nadu electricity Board
- Oldendorff Carriers - Singapore
- Bhushan Steel Limited - India
- Semirara Mining Corp, Philippines
- Singapore Mercantile Exchange
- Grasim Industreis Ltd - India
- Billiton Holdings Pty Ltd - Australia
- Miang Besar Coal Terminal - Indonesia
- Indonesian Coal Mining Association
- Mercuria Energy - Indonesia
- Vedanta Resources Plc - India
- Simpson Spence & Young - Indonesia
- Interocean Group of Companies - India
- The Treasury - Australian Government
- Kalimantan Lumbung Energi - Indonesia
- Bharathi Cement Corporation - India
- PetroVietnam Power Coal Import and Supply Company
- McConnell Dowell - Australia
- Aboitiz Power Corporation - Philippines
- Central Java Power - Indonesia
- Maheswari Brothers Coal Limited - India
- Gujarat Mineral Development Corp Ltd - India
- Cement Manufacturers Association - India
- LBH Netherlands Bv - Netherlands
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- AsiaOL BioFuels Corp., Philippines
- Power Finance Corporation Ltd., India
- Savvy Resources Ltd - HongKong
- GAC Shipping (India) Pvt Ltd
- Minerals Council of Australia
- CIMB Investment Bank - Malaysia
- Lanco Infratech Ltd - India
- The State Trading Corporation of India Ltd
- Sree Jayajothi Cements Limited - India
- Directorate Of Revenue Intelligence - India
- Borneo Indobara - Indonesia
- SMG Consultants - Indonesia
- Sojitz Corporation - Japan
- Goldman Sachs - Singapore
- Mintek Dendrill Indonesia
- Carbofer General Trading SA - India
- Toyota Tsusho Corporation, Japan
- White Energy Company Limited
- Parliament of New Zealand
- SN Aboitiz Power Inc, Philippines
- Bangladesh Power Developement Board
- Bhatia International Limited - India
- Altura Mining Limited, Indonesia
- Xindia Steels Limited - India
- CNBM International Corporation - China
- Wilmar Investment Holdings
- Dalmia Cement Bharat India
- Australian Commodity Traders Exchange
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- Meenaskhi Energy Private Limited - India
- Essar Steel Hazira Ltd - India
- Videocon Industries ltd - India
- Indian Energy Exchange, India
- Gujarat Electricity Regulatory Commission - India
- GMR Energy Limited - India
- Binh Thuan Hamico - Vietnam
- Australian Coal Association
- Timah Investasi Mineral - Indoneisa
- Coalindo Energy - Indonesia
- Kohat Cement Company Ltd. - Pakistan
- TeaM Sual Corporation - Philippines
- Meralco Power Generation, Philippines
- Trasteel International SA, Italy
- Makarim & Taira - Indonesia
- Sarangani Energy Corporation, Philippines
- Ministry of Mines - Canada
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- Maharashtra Electricity Regulatory Commission - India
- International Coal Ventures Pvt Ltd - India
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- Petron Corporation, Philippines
- Vijayanagar Sugar Pvt Ltd - India
- Chettinad Cement Corporation Ltd - India
- Pendopo Energi Batubara - Indonesia
- Mjunction Services Limited - India
- Attock Cement Pakistan Limited
- Thai Mozambique Logistica
- OPG Power Generation Pvt Ltd - India
- Energy Link Ltd, New Zealand
- Energy Development Corp, Philippines
- PTC India Limited - India
- Metalloyd Limited - United Kingdom
- Agrawal Coal Company - India
- Global Business Power Corporation, Philippines
- Bhoruka Overseas - Indonesia
- Renaissance Capital - South Africa
- MS Steel International - UAE
- Thiess Contractors Indonesia
- Ceylon Electricity Board - Sri Lanka
- South Luzon Thermal Energy Corporation
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- Siam City Cement - Thailand
- Chamber of Mines of South Africa
- Rio Tinto Coal - Australia
- Formosa Plastics Group - Taiwan
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