India Eyes Major Increase in Russian Coking Coal Imports
Quick Look
- India aims to significantly boost coking coal imports from Russia, with Steel Secretary Sandeep Poundrik stating the potential for growth is unlimited.
- Currently importing 8-9 million tons annually, India could double or triple this amount if quality and price are favorable, potentially reducing reliance on Australia.
AI-generated summary
India would like to significantly increase its imports of coking coal from Russia, Steel Secretary Sandeep Poundrik told TASS ahead of his visit to Russia, adding that the potential for increasing supplies is unlimited.
"There’s so much scope for increase in imports from Russia because if the quality is right and the price is right, [the share], which is roughly 8-9 mln [tons] per annum right now, can double or triple in coming years," he said.
Over the past month, two Russian delegations visited New Delhi to discuss cooperation expansion, Poundrik noted, adding that now he himself is going to visit Russia.
"Presently, about 60% coking coal comes [to India] from Australia, and about 15% comes from Russia," he said. Supplies from Russia have begun to grow rapidly in the last five years, the official said, adding that there is currently "tremendous scope to increase the coking coal imports from Russia."
India remains dependent on coking coal supplies, having imported about 90% of its requirements last year, with Australia remaining its main supplier, but supplies from Russia and the United States having started growing in recent years, he noted.
The country’s demand for coking coal will grow rapidly due to the expansion of India’s steelmaking capacity, which has doubled in the last ten years from 110 mln to more than 220 mln tons, Poundrik stressed.
