According to local press reports, state-owned Indian steel producer Steel Authority of India Ltd (SAIL) announced on October 7 that it will import about 11 million metric tons of coking coal this fiscal year, lower than the 13 million metric tons imported in FY 2008-09, due to the recession and the subsequent fall in demand.
However, SAIL's coking coal imports are expected to be higher in the next fiscal year, bouncing back to 13 million mt due to the expected recovery in demand. SAIL's annual coking coal needs amount to 15 million mt.
SAIL has long-term contracts with coking coal producers including Australian-based BHP Billiton.