Russia is amongst the top two suppliers of coking coal to India for the January–July period. Purchases were 26 per cent higher during the period to 4 million tonne (mt) due to cheaper offerings, coming at 30 per cent lower rates, and due to supply issues from Australia, the key seller.
Metallurgical coal exports from Russia during the same period last year was around 3.2 mt and it also included pulverised coal for injection (PCI). Coking coal is one of the key raw materials for steel-making and accounts for about 40 per cent of the steel-making cost.
Trade sources say over the last two to three years, Russia was among the top four su......