According to recent news in the market, Indian steel producer Steel Authority of
India Ltd (
SAIL) is planning to reduce
production due to shortage of metallurgical coal in international markets fuelled by strong demand from
China.
In line with this decision,
SAIL's facility and country's largest mill Bhilai Steel will have to reduce its
production by 20% this month, which will probably result in a reduction in its profit. Moreover, the mill will have to operate with its five blast furnaces instead of seven.