Steel Authority of India Ltd said that it would import about 11 million tonnes of coking coal this fiscal, lower than the imports in 2008-09 due to the recession and the subsequent fall in demand.
A SAIL official on the sidelines of the coal summit said that “SAIL plans to import 10 million tonne to 11 million tonne of coking coal this fiscal. Imports may bounce back to 13 million tonne of coal next fiscal as we are witnessing a recovery in demand. Every month is better than the past month.”
The official further added that this year imports were low because of the recession and fall in demand. Imports for last fiscal stood at 13 million tonne.
The official said that “We have long term contracts with coking coal producers including BHP Billiton.” He added that over 70% imports were from Australia and about 30% from the US.
(Sourced from www.steelguru.com
Wednesday, October 7, 2009
SAIL to import 11 million tonne of coking coal in 2009-10
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