Chief Correspondent, Commodities, India
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May 16, 2014

India court orders temporary closure of some Odisha iron ore mines

NEW DELHI/BHUBANESWAR, May 16 (Reuters) – India’s Supreme
Court ordered on Friday the temporary closure of nearly half of
the iron ore mines in top producing state Odisha due to
non-renewal of years-old leases, in a blow to local steel mills
that depend heavily on high-quality ore from the state.

Odisha, which allows exports of only half of total iron ore
output, produced more than 70 million tonnes in the last fiscal
year from 56 operating mines.

May 9, 2014

Narendra Modi’s manufacturing push cheers steel makers

NEW DELHI (Reuters) – When prime ministerial hopeful Narendra Modi asked at an election rally if anyone knew of a country that exported wheat but imported bread, steelmakers joined his followers to cheer.

For steel executives, it was just what they wanted to hear: their calls to restrict exports of iron ore further will be met if Modi’s Bharatiya Janata Party (BJP) wins the election.

May 9, 2014

Modi’s manufacturing push cheers Indian steel makers

NEW DELHI (Reuters) – When Indian prime ministerial hopeful Narendra Modi asked at an election rally if anyone knew of a country that exported wheat but imported bread, steelmakers joined his followers to cheer.

For steel executives, it was just what they wanted to hear: their calls to restrict exports of iron ore further will be met if Modi’s opposition Bharatiya Janata Party (BJP) wins the election.

Mar 26, 2014

JSW Steel sees flat coking coal imports in 2014/15

NEW DELHI (Reuters) – JSW Steel (JSTL.NS: Quote, Profile, Research), India’s No. 3 steel maker, said it expects imports of metallurgical coal to stay flat at 7-8 million tonnes in 2014/15, indicating its mills will continue to run below capacity due to soft demand and a shortage of iron ore.

The company said in December its 10 million-tonne-per-year mill in Karnataka state would not operate at more than 80 percent capacity in the near future as supply of key feedstock iron ore stays weak. It has also slowed plans to nearly triple annual capacity to 40 million tonnes in the next decade.

Mar 26, 2014

India’s JSW Steel sees flat coking coal imports in 2014/15

NEW DELHI, March 26 (Reuters) – JSW Steel, India’s
No. 3 steel maker, said it expects imports of metallurgical coal
to stay flat at 7-8 million tonnes in 2014/15, indicating its
mills will continue to run below capacity due to soft demand and
a shortage of iron ore.

The company said in December its 10 million-tonne-per-year
mill in Karnataka state would not operate at more than 80
percent capacity in the near future as supply of key feedstock
iron ore stays weak. It has also slowed plans to nearly triple
annual capacity to 40 million tonnes in the next decade.

Mar 19, 2014

Jindal to stop buying metallurgical coal from Australia in three months

NEW DELHI (Reuters) – Jindal Steel and Power Ltd(JNSP.NS: Quote, Profile, Research) will stop buying coking coal from Australia in three months from now as its own mines there start shipping, a top company official said, a move that could further soften prices of the commodity.

Recent coking, or metallurgical, coal price settlements by major miners showed a fall in the price of all coal types for the first quarter of 2014, underscoring a weak demand outlook from steelmakers in Asia.

Mar 18, 2014

Sesa Sterlite’s copper smelter to be shut for 22 days – sources

NEW DELHI (Reuters) – India’s No.1 refined copper producer Sesa Sterlite Ltd (SESA.NS: Quote, Profile, Research) will shut its smelter for 22 days starting April 26, two company sources said on Tuesday, in what would be the first maintenance closure in four years and cut supplies to top buyer China.

Sesa Sterlite, a unit of billionaire Anil Agarwal-controlled Vedanta Resources Plc (VED.L: Quote, Profile, Research), produces 30,000 tonnes of refined copper per month and exports half of that to China.

Mar 18, 2014

India Sesa Sterlite’s copper smelter to be shut for 22 days-sources

NEW DELHI, March 18 (Reuters) – India’s No.1 refined copper
producer Sesa Sterlite Ltd will shut its smelter for
22 days starting April 26, two company sources said on Tuesday,
in what would be the first maintenance closure in four years and
cut supplies to top buyer China.

Sesa Sterlite, a unit of billionaire Anil Agarwal-controlled
Vedanta Resources Plc, produces 30,000 tonnes of refined
copper per month and exports half of that to China.

Mar 13, 2014

Coal imports jump 20 percent in Feb as prices dip

NEW DELHI (Reuters) – India’s coal imports jumped 20 percent year-on-year in February to 11.6 million tonnes as prices dipped and the rupee strengthened, data from research firm OreTeam showed, indicating that demand remains strong despite a sharp fall in January.

India’s reliance on foreign coal has grown over the years as local production has failed to grow in line with demand, making the country the world’s third-largest importer of the fuel even as it sits on the fifth-largest reserve.

Mar 13, 2014

India coal imports jump 20 pct in Feb as prices dip-OreTeam

NEW DELHI, March 13 (Reuters) – India’s coal imports jumped
20 percent year-on-year in February to 11.6 million tonnes as
prices dipped and the rupee strengthened, data from research
firm OreTeam showed, indicating that demand remains strong
despite a sharp fall in January.

India’s reliance on foreign coal has grown over the years as
local production has failed to grow in line with demand, making
the country the world’s third-largest importer of the fuel even
as it sits on the fifth-largest reserve.

    • 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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