According to Steel Authority of India (SAIL), the coking coal prices that have softened in the last two weeks will fall further on expected rise in production. Following flashfloods in Australia's Queensland province, the price of coking coal had skyrocketed to $350 a tonne just two weeks back. However, it fell sharply since then to $235 a tonne now. For the last two weeks, coking coal prices have been softening, especially on Japan fall-out. Japan is importing about 10 million tonne every month. So, there is more availability in the market. The coking coal price would come to normalcy once mining companies in Australia resume full operations.
SAIL requires around 15 million tonne of coking coal a year. Only 4.5 million tonne is met through domestic sources and the remaining 10.5 million tonne comes from imports, around 60% of which comes from Australia.
Company Name | CMP |
---|---|
JSW Steel | 913.65 |
Tata Steel | 174.25 |
SAIL | 166.20 |
Jindal Stainless | 805.40 |
Jindal Saw | 555.15 |
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