Tata Steel is eyeing for alternative markets for imports of coal as it faces uncertainties with its Russian suppliers and bankers, amid the Russia-Ukraine conflict. The geopolitical situation after Russia's invasion of Ukraine has also opened up steel export opportunities in Europe, following a supply vacuum of 45 million tonne of the metal left by Russia and Ukraine in the continent. The company used to buy 10-15 per cent of its coal requirements from Russia for use in pulverised coal injection.
The 45 million tonne supply vacuum left by Russia and Ukraine also opened up export opportunities for Indian steel producers, resulting in spot prices going up by Euro 1,000. Tata Steel will look at exporting more to southern Europe, as compared to Asian markets, from India for better margins.
Tata Steel, the flagship company of the Tata group, is the first integrated steel plant in Asia and is now the world’s second most geographically diversified steel producer and a Fortune 500 company.
