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India Plans to Double Russian Coking Coal Imports

Well-known Chinese news site Sina (NASDAQ: SINA) recently reported that India’s Steel Minister Ram Chandra Prasad Singh said India plans to double its coking coal imports from Russia. Singh said in a conference in New Delhi that, coking coal is a key raw material for steelmaking, and the current conflict between Russia and Ukraine has affected the stable supply. Data from consultancy Kpler showed that, at least 1.06 million tons of coking and thermal coal have been shipped to Indian ports since March, the most since January 2020. U.S. President Joe Biden said on March 21 that India’s response to confronting Russia was “erratic,” an exception among Washington’s allies. Unlike other members of the Quadrilateral Security Dialogue (QUAD) – the United States, Japan and Australia – India continues to purchase Russian oil, refuses to publicly condemn Russia, and abstained from voting three times on the relevant United Nations resolutions related to Ukraine. An Indian government official said that India, the world’s third-largest consumer of crude oil, relies on imports for nearly 85 percent of its demand, while supplies from Russia are “negligible” at less than one percent. Another Indian government official said, “Russia offers oil and other commodities at lower discounts, and we are happy to accept that.”

Source: Sina, March 27, 2022