Govt Enforces ‘Melt and Pour’ Rule for All Steel in Public Projects Nippon Steel expected to finalize U.S. Steel acquisition at $55 per share NMDC Limited reports a 38% drop in Q4 FY24 consolidated net profit RINL to Raise $23 Million Through Land Sales Amid Crisis
JSW targets Mongolian coal to diversify sources.
Logistical challenges may impede imports.
Shift looks to reduce Australia dependence.
JSW Steel, India's top steel maker, is aggressively studying the potential to source coking coal from Mongolia with the goal of reducing its raw material dependence and ensuring long-term supply security. The move follows steelmakers around the world in looking for alternatives in the face of fluctuations in coal prices and disruptions in trade.
Coking coal, a key input in steel making, is imported by Indian firms primarily from Australia. JSW Steel's decision to explore Mongolian coal is part of its plan to de-risk procurement and better control costs. Industry experts point out, though, that connectivity issues, non-availability of direct transport links, and cross-border trade restrictions between India and Mongolia continue to remain major hindrances.
Even with these operational challenges, the firm considers Mongolian coal a strategic opportunity because of its pricing advantage and quality. JSW Steel is said to be negotiating with suppliers and logistic partners to overcome the connectivity and infrastructure challenges.
If it materializes, the move may decouple India from its overreliance on Australian coking coal, make JSW's procurement base more diversified, and possibly bring down the cost of inputs into steel making.
Also Read : Emsteel Launches First Green Finance Framework Program India’s Steel Exports Up 12% in April on EU Demand Surge
✅ Tata Steel appoints three Wales contractors for its Port Talbot green steel project.✅ The initia...
Business 26-Mar-2025
Iron ore prices have taken a hit as China’s steel mills cut production ahead of a crucial poli...
Raw Material 03-Mar-2025
Vedanta Resources, the parent of Vedanta Ltd, has sold a stake worth more than ₹17.37 billion ($209...
Large Corporate 15-Feb-2024
According to Rio Tinto Chairman Dominic Barton, low rates of investment in the global mining sector...
Raw Material 16-Apr-2024
JSW Steel, led by Sajjan Jindal, is projected to report a net profit of ₹1,661 crore as opposed to ₹...
Large Corporate 17-May-2024
The China Steel Logistics Committee (CSLC), a division of the China Federation of Logistics and Purc...
Ferrous 30-Apr-2024