Recent coking coal price Rise puts pressure on sail’s operations
India’s largest steel maker SAIL said there is a need to develop indigenous sources of coking coal to meet its requirements as recent rise in the price of metallurgical coal was putting pressure on its operations. While addressing his employees for the first time through company’s Facebook and Twitter account, SAIL Chairman PK Singh said that the steel maker currently meets the maximum requirement of coking coal through imports.
“Given the unprecedented volatility in international markets, we need to develop indigenous sources of coal to meet our requirements. Also, there has to be wise use of this input material with attaining efficient pushing coefficient,” he added.
Coking coal, also known as metallurgical coal, is used to create coke, one of the key irreplaceable inputs for the production of steel. “While we augment our volumes, we are likewise planning to raise our mining capacities to sustain the growth. At the same time, greater emphasis on beneficiation and alternate routes of steel production will have to be explored for being able to use these low grade raw materials which are available in abundance,” he said.