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Coking Coal Prices Surge 25%, Squeezing India's Steelmakers
Coking Coal Prices Surge 25%, Squeezing India's Steelmakers
Submitted By Charles Kennedy of OilPrice.com
Indian steelmakers are reeling from a jump in coking coal prices this year that is squeezing their margins and delaying capacity expansion in the steelmaking industry, analysts and industry executives tell Reuters.
India relies on imports for as much as 95% of its coking coal, or metallurgical coal, demand. Metallurgical coal is a grade of coal that is one of the essential raw materials in the steelmaking process. Also known as met coal, this type of coal contains...
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