Chief Correspondent, Commodities, India
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Nov 25, 2013

Coking coal imports to jump as steelmakers shift to low-grade iron ore

NEW DELHI (Reuters) – India’s coking coal imports could see a double-digit percentage increase this fiscal year as a scarcity of high-quality iron ore after a mining ban is forcing steelmakers to use inferior grades that need more coal to process into steel.

The world’s third-largest importer of coking coal shipped in 32.2 million tonnes last year. The use of low-grade iron ore would mean more coal purchases from traditional suppliers such as Australia, South Africa and the United States – helping support prices even if demand from China tapers.

Nov 25, 2013

India coking coal imports to jump as steelmakers shift to low-grade iron ore

NEW DELHI, Nov 25 (Reuters) – India’s coking coal imports
could see a double-digit percentage increase this fiscal year as
a scarcity of high-quality iron ore after a mining ban is
forcing steelmakers to use inferior grades that need more coal
to process into steel.

The world’s third-largest importer of coking coal shipped in
32.2 million tonnes last year. The use of low-grade iron ore
would mean more coal purchases from traditional suppliers such
as Australia, South Africa and the United States – helping
support prices even if demand from China tapers.

Nov 15, 2013

Steelmakers look to bid for low-quality Goan iron ore

NEW DELHI (Reuters) – Indian steelmakers are looking to bid for much of the 11.46 million tonnes of low-quality iron ore that Goa will auction, after court-ordered restrictions on mining have cut off supplies.

The domestic steel mills have traditionally preferred ores with higher iron content but are now developing technology to use whatever ore they can lay their hands on.

Nov 15, 2013

Indian steelmakers look to bid for low-quality Goan iron ore

NEW DELHI, Nov 15 (Reuters) – Indian steelmakers are looking
to bid for much of the 11.46 million tonnes of low-quality iron
ore that the state of Goa will auction, after court-ordered
restrictions on mining have cut off supplies.

The domestic steel mills have traditionally preferred ores
with higher iron content but are now developing technology to
use whatever ore they can lay their hands on.

Nov 13, 2013

Tata Steel Q2 profit $144 million, beats estimates

NEW DELHI (Reuters) – Tata Steel Ltd(TISC.NS: Quote, Profile, Research) reported a sharply higher-than-expected second-quarter profit, helped by a rise in prices and market share at home but it said Europe was still challenging despite an improving performance there.

Europe is Tata Steel’s top market and production centre, but it has struggled there since gaining an entry through its $13 billion acquisition of Corus in 2007.

Nov 13, 2013

Tata Steel says Europe remains challenging despite uptick

NEW DELHI, Nov 13 (Reuters) – India’s Tata Steel Ltd
reported a sharply higher-than-expected second-quarter
profit, helped by a rise in prices and market share at home but
it said Europe was still challenging despite an improving
performance there.

Europe is Tata Steel’s top market and production centre, but
it has struggled there since gaining an entry through its $13
billion acquisition of Corus in 2007.

Nov 12, 2013

Hindalco says coal mining delays to hit profitability; results miss estimates

NEW DELHI (Reuters) – India’s second largest aluminium and copper producer Hindalco Industries(HALC.NS: Quote, Profile, Research) said on Tuesday delays in obtaining coal mining rights would weigh on its profit growth, as the company will now be forced to buy the costly fuel.

Hindalco and its chairman, billionaire Kumar Mangalam Birla, are being investigated by India’s federal police as part of a probe into possible irregularities in the allocation of coal blocks to several companies over the past two decades.

Nov 12, 2013

India’s Hindalco says coal mining delays to hit profitability

NEW DELHI, Nov 12 (Reuters) – India’s second largest
aluminium and copper producer Hindalco Industries said
on Tuesday delays in obtaining coal mining rights would weigh on
its profit growth, as the company will now be forced to buy the
costly fuel.

Hindalco and its chairman, billionaire Kumar Mangalam Birla,
are being investigated by India’s federal police as part of a
probe into possible irregularities in the allocation of coal
blocks to several companies over the past two decades.

Nov 12, 2013

Supreme Court keeps ban on Goa iron ore mining, allows inventory sales

NEW DELHI (Reuters) – The Supreme Court of India has maintained a 14-month ban on iron ore mining in top producing state Goa but allowed the sale of more than 11 million tonnes of material that sat in stockpiles.

Restrictions aimed at clamping down on illegal mining have slashed output and shipments from India, previously the world’s third-largest exporter with over $7 billion a year of iron ore supplied mostly to China’s steelmakers.

Nov 12, 2013

India keeps ban on Goa iron ore mining, allows inventory sales

NEW DELHI, Nov 12 (Reuters) – India’s Supreme Court has
maintained a 14-month ban on iron ore mining in top producing
state Goa but allowed the sale of more than 11 million tonnes of
material that sat in stockpiles.

Restrictions aimed at clamping down on illegal mining have
slashed output and shipments from India, previously the world’s
third-largest exporter with over $7 billion a year of iron ore
supplied mostly to China’s steelmakers.

    • About Krishna

      "I lead the India commodities team for Reuters in New Delhi. I cover the coal, metals and mining industries with a focus on government policy. Before coming to the capital in April 2013, I headed two teams of reporters covering small-and-medium-sized U.S./Canada-listed energy and resources companies."
      Joined Reuters:
      August, 2009
      Languages:
      Assamese
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