‘Badly Hit’ By High Costs India Metal Mills Seek to Cut Coal Use
- Hindustan Zinc aims to cut costs by about $20/ton by March-end
- JSW Steel saw a 77% increase in total expenses in Oct.-Dec.
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India’s top metal producers are searching for ways to trim their consumption of coal after sky-rocketing prices of the fuel ate into their profits.
Benchmark thermal coal prices have more than doubled in the past year and could surpass October’s record high as deliveries from Indonesia are delayed and a global energy squeeze continues. Coking coal, a key raw material in the steelmaking process, has risen by nearly a third in Dalian in the same period.