Coal shipments to India rose 10% y/y
NewsBetween January and August, India’s coal shipments rose 10% y/y, driven by strong electricity demand, but hydropower recovery may reduce future coal demand.
Russian port manoeuvres
StandardRussia’s third largest steel maker Novolipetsk Metallurgical Works (NLMK) is reportedly about to exchange part of its 69.4 per cent stake in the country’s largest coal port, Tuapse on the Black Sea, for shares in two leading national coal miners, Altai Coke (AK) and ProkopievskUgol (PU), both controlled by KuzbassRazrezUgol (KRU). NLMK is understood to have paid US$200 mill when it acquired the port stake from SeverStalTrans last year.
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