Tata Steel expects 17 percent rise in coking coal import prices

Wednesday, 28 September 2011 14:23:16 (GMT+2)

According to media resources, On September 28, a senior company executive of Indian steelmaker Tata Steel Limited said that TATA Steel expects to pay around 17 percent more than a year ago to import coking coal in the October-December quarter for its steel-making operations.

Last year, Tata Steel paid about $US200/mt to buy coking coal for the October-December quarter. According to Tata Steel's procurement chief, Ranjan Sinha, the company plans to import about one million mt of coal in the next quarter, while it will source a similar quantity from its own mines. Also, media resources states Mr Sinha informing that Tata Steel is negotiating with international mining companies, including Australian coking coal supplier Wesfarmers, for purchase of coking coal and expect the price to be around $US235 per mt.

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