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Indian Coal Buyers Seek Deferrals as Rupee Slump Raises Costs

Coal buyers in India, the world’s third-largest user, are negotiating to defer imports from Indonesia as the slump in the rupee makes them more expensive.

Buyers are asking to delay shipments of Indonesian thermal coal for as long as one month as they seek to negotiate lower prices with suppliers, Ramli Ahmad, the managing director of PT Asia Pacific Mining Resources, which trades 2 million metric tons a year, said at a conference in Balikpapan, Indonesia yesterday. “Some are not clear on how long they are asking to delay,” he said.