Cheaper coking coal contract may boost SAIL, RINL Q4 nos

Written by Press Trust of India | New Delhi | Updated: Feb 8 2013, 05:55am hrs
State-run steelmakers SAIL and RINL will get coking coal cheaper by up to $7 (around R370) per tonne from Australian suppliers in the current quarter, a source in the steel ministry said.

An empowered joint committee, which sets prices on a quarterly basis for the two steelmakers, has fixed the rate at $161 per tonne for hard coking coal and $138 a tonne for soft coking coal for the current quarter.

Prices have been finalised by the empowered joint committee of SAIL and RINL with major Australian coal suppliers for the fourth quarter. The quarterly prices are lower than previous quarter's prices, by about $4-5/tonne in case of hard coking coal and $7 per tonne in case of soft coking coal, the source said.