Export of Russian coal to India faced problems
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Exports of Russian coking coal to India have grown since the beginning of the year, but notably less than energy exports, Kommersant writes.
Indian experts note that local steel mills are afraid to buy Russian coal because of Western sanctions. Also, a long period of transportation, a decrease in demand for steel and the presence of long-term contacts with suppliers from Australia have a negative impact.
At the same time, India is still interested in increasing imports of coking coal, as by 2030 the country plans to double its steel production to 87 million tons.
At the same time, India has vast reserves of its own iron ore, but it is not able to increase coal production on its own.
In general, Russian suppliers attract Indian companies with attractive prices. They offer discounts of up to 60 percent compared to Australian coal, which has recently been priced at $400 a ton.
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