Sumita Modi's News (8)

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’ coal imports may fall short of a 47 million metric-ton target in the year ending March 2011, according to a report by a shipbroker.



“This is a stretched target and actual imports in 2010-11 may be only to the tune of around 38-40 million tons,” InterOcean said in a note today.



That… Continue

The Indian rupee eased by 3 paise against the US dollar on Tuesday after a six-day rally on fresh capital outflows by foreign funds and a firm US currency.…

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The Finance Minister, Mr Pranab Mukherjee, has announced a slew of measures including setting up a national clean energy fund (NCEF) to promote clean technologies.

Amongst the other things, Mr Mukherjee has proposed a clean energy cess levy of Rs 50 a tonne on coal imported and produced domestically.

Based on the 2008-09 coal output and imports of 551 million tonnes, this could fetch the Government over Rs 2,750 crore. This will form the corpus for NCEF that aims to fund…

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The coal shortage in India is likely to touch 15 per cent to 81 million tonnes (mt) by the end of the current Plan period ending March 2012, according to the government’s latest estimate.



This comes at a time when the country’s total commercial energy requirement is expected to grow at 5-6 per cent to a massive 1,667 million tonne oil equivalent (Mtoe) required to achieve and sustain a 9 per cent Gross Domestic Product (GDP) growth rate in the next two decades, as…

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Presently the price of Indian imported low ash metallurgical coke increased from U.S.$300 per ton in September to the current U.S.$350 per ton (CFR) and it is likely to continue rising.



Traders believed that because China stopped coke export and Russia, Poland and Columbia' s coke import was more and more difficult, the supply was shortage, while the upward tendency of coking coal drove the coke price.



Affected by the demand in ferroalloy industry, Indian domestic low… Continue

Sources say that buyers will need more steel in 2010 than during the recession-not only boosting demand for steel but also for the coking coal, iron ore, scrap, limestone and ferroalloys needed to make raw steel.



Surma is quoted by the Pittsburgh Tribune-Review newspaper as saying the domestic steel industry's operating rate-now around 62% of capacity-will have to be boosted to meet anticipated higher 2010 demand for steel. And that will increase demand for coking coal… Continue