Higher coal prices seen impacting steel industry’s growth plans
Indian steel-makers' debt reduction plans may be slowed down by higher coal prices, according to S&P Global Ratings. The firm predicts that the consolidated debt of major steel makers in India will remain at 2.1 trillion rupees as of March 2025, up 150 billion rupees from the previous estimate. The average prices of metallurgical coal are expected to rise to $270 a ton in 2024, largely due to supply constraints in Australia, tensions in the Red Sea, and strong demand from India and markets outside China.
Disclaimer : Mytimesnow (MTN) lets you explore worldwide viral news just by analyzing social media trends. Tap read more at source for full news. The inclusion of any links does not necessarily imply any endorsement of the views expressed within them.
