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SAIL yet to renegotiate coking coal prices

SAIL yet to renegotiate coking coal prices
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First Published: Mon, Mar 16 2009. 10 09 PM IST
Updated: Mon, Mar 16 2009. 10 09 PM IST
Mumbai: The nation’s second biggest steel producer, Steel Authority of India Ltd (SAIL) has yet to renegotiate coking coal prices with suppliers, steel secretary Pramod Rastogi said. SAIL pays $305 (Rs15,738) a tonne for coking coal it buys from international miners such as BHP Billiton Ltd.
JSW Steel Ltd, the nation’s third largest producer, said in January it slashed coking coal rates paid to Rio Tinto Group by 43% to $175 a tonne for the last three months of an annual contract ending 31 March. Tata Steel Ltd, the nation’s biggest producer, also renegotiated lower prices, it said in January.
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First Published: Mon, Mar 16 2009. 10 09 PM IST