Coal supply shortage hurts top metals, cement makers

cil, coal, coal shortage, metal, cement, mahanadi coalfields, vedanta, hindalco

India’s top metals and cement makers are hurt by a fall in the availability of coal from state-owned Coal India Ltd (

CIL

) and its subsidiaries, which are sending more of the dry fuel to the power sector while cutting down the supplies to other users.

“We heard from CIL that there is no sufficient coal available and that is why they have stopped the supplies. Our stock as of today is available for the next two days,” said an executive at a top steelmaker, requesting anonymity.

Steelmakers that process DRI (direct reduced iron) use thermal coal and keep stock for 12-15 days, which has now come down to 3-4 days for most. For them, the daily consumption is around 10,000-12,000 tonnes of coal.

Stock Score, Analysts’ Ratings & Recommendations
EARNINGS
FUNDAMENTAL
RELATIVE VALUATION
RISK
PRICE MOMENTUM
Stock score of CIL Nova Petrochemicals Ltd moved down by 1 in a week on a 10-point scale.

View Latest Stock Report

Stock Analysis

Stock score of CIL Nova Petrochemicals Ltd is 5 on a scale of 10. View Stock Analysis »

Industry insiders said top players like Jindal Steel & Power,

Vedanta

,

Hindalco

and JSW Steel will be impacted due to this development.

“The situation is grave. We are mulling reducing the production if this continues,” said another executive of a manufacturer of primary steel.

Coal India arm Mahanadi Coalfields on Tuesday informed the railways that it has decided to restrict the loading of non-power category rakes to enhance dispatches to the power sector.

“Therefore, it is requested to restrict supply to non-power category customers to a maximum of 2 rakes from the sidings of IB coalfield to maximise dispatch to powerhouses having less than l0 days’ stock,” the company said in a letter to the chief freight traffic manager at the South East Central Railway in Bilaspur.

Mahanadi Coalfields said this has been discussed and a joint decision made by the coal players and the ministries of coal, power and railways.

cil, coal, coal shortage, metal, cement, mahanadi coalfields, vedanta, hindalco

A CIL spokesperson could not be contacted over the phone.

“Coal India usually loads around 210-230 rakes per day for both power and non-power categories. Around 50-60 rakes per day go for non-power categories like steel, aluminium and cement. In the last 10 days, the supply is around 29-25 rakes,” said an industry executive close to the development.

Cement companies say that they had stocked enough during the first quarter and expected the situation to ease, but it did not happen.

“We were not prepared for this ad hoc announcement by Coal India,” said an insider at one of the largest cement makers based in eastern India.

Some cement makers said they may curtail production.

Internet Explorer Channel Network
News Related

OTHER NEWS

Kedah pajak atau serah P Pinang kepada British, soal Ramasamy

© Provided by Free Malaysia Today P Ramasamy berkata, Muhammad Sanusi Md Nor bukan pakar untuk mentafsir sejarah ikut suka hati. PETALING JAYA: Seorang lagi pemimpin Pulau Pinang membidas Menteri ... Read more »

Maharashtra Witnesses 5-year High in Chikungunya Cases, Over 2,000 People Infected Till October

© Provided by News18 Maharashtra Witnesses 5-year High in Chikungunya Cases, Over 2,000 People Infected Till October With 2,006 cases of chikungunya between January and October this year, Maharashtra has ... Read more »

'No Central govt file to pass over 4 hands': Centre to push for major governance reform

© Provided by Firstpost ‘No Central govt file to pass over 4 hands’: Centre to push for major governance reform It has taken six years for the Narendra Modi government ... Read more »

Nykaa IPO Opens Today: Price, GMP, Strength, Valuation, Key Risks; Should you Invest?

© Provided by News18 Nykaa IPO Opens Today: Price, GMP, Strength, Valuation, Key Risks; Should you Invest? Nykaa IPO Opens Today: The much awaited initial public offering (IPO) of FSN ... Read more »

Sedition charges will be pressed against those celebrating Pakistan's victory, warns UP CM Yogi Adityanath

© Provided by Zee News NEW DELHI: Uttar Pradesh Chief Minister Yogi Adityanath has warned that his government will press sedition charges against those celebrating Pakistan’s victory against India in ... Read more »

Petrol price rises to Rs 114.14 in Mumbai, diesel rate increases to Rs 105.12

© Provided by CNBCTV18 The oil marketing companies (OMCs) hiked petrol and diesel prices on Thursday for second consecutive day. While petrol price was raised by 34-35 paise, diesel rate ... Read more »

Top stock tips by Sudarshan Sukhani, Mitessh Thakkar: Petronet LNG, Bajaj Finance, Cholamandalam Finance and more

© Provided by CNBCTV18 Indian equity benchmarks Sensex and Nifty50 are likely to start Thursday’s session on a flat note amid mixed global cues. At 8:35 am, Nifty futures trading ... Read more »

Bharat Biotech's US partner Ocugen filed with US FDA for clinical trial of Covaxin

© Provided by Business Today Bharat Biotech’s US partner Ocugen filed with US FDA for clinical trial of Covaxin Bharat Biotech’s US partner Ocugen, a Pennsylvania-based biopharmaceutical company, announced that ... Read more »

UPSC interview schedule released for IES, ISS Exam 2021 on upsc.gov.in

© Provided by DNA Union Public Service Commission (UPSC) has released the interview schedule for UPSC IES, ISS Exam 2021. Candidates can go through the interview schedule for Indian Economic ... Read more »

Covid: 16k new cases as infections rise in Bengal, Odisha & HP

© Provided by The Times of India NEW DELHI: There seems to be no respite in the states that saw a minor surge in cases following the Durga Puja week. ... Read more »

Can't find workers? Why not pay more instead of exploiting children and migrants

The senate of the US state of Wisconsin has just approved a bill allowing 14-year-old children to engage in paid work until as late as 11pm. © Provided by The ... Read more »

Tom Hanks Surprises Couple on Their Wedding Day: 'It Was the Cherry on Top'

© Provided by People access hollywood Tom Hanks has made a newlywed couple even happier on their wedding day! Diciembre and Tashia Farries were recently celebrating their big day on ... Read more »

Brad Pitt's Petition for Review in His and Angelina Jolie's Custody Case is Denied

© ET Brad Pitt’s petition to challenge a decision on his ongoing custody battle with Angelina Jolie has been denied. ET can confirm that the California Supreme Court denied Pitt’s ... Read more »

Blackhawks scandal: Kyle Beach reveals himself as 'John Doe' victim of coach's sexual assault

Kyle Beach announced he is “John Doe” in the Chicago Blackhawks‘ sexual assault case on Wednesday. The Blackhawks’ first-round pick in the 2008 NHL Draft (11th overall), Beach filed a ... Read more »

Fossil fuel executives set to testify on climate disinformation at House Oversight hearing

For the first time, the executives of major fossil fuel companies and industry groups will testify in front of Congress on Thursday about disinformation on the climate crisis and the ... Read more »

Global finance group urges greater use of carbon markets to meet climate goals

FILE PHOTO: Smoke and steam billows from Belchatow Power Station LONDON (Reuters) – Countries must increase the use of carbon markets to meet the Paris climate goals of limiting a ... Read more »

North Korea tells citizens food shortage will last through 2025: Report

North Korea has reportedly told its citizens to expect food shortages until 2025. AP North Korea’s totalitarian government has told its people to tighten their belts — literally — for ... Read more »

UAE then and now: the transformation of Downtown Dubai in pictures

© Provided by The National Burj Khalifa in 2008 as it rises on Sheikh Zayed Road in Dubai and the same scene in 2021. Jumana El Heloueh / Reuters and ... Read more »

Billie Eilish and Rainn Wilson call for ‘urgent action' from world leaders ahead of UN Cop26 climate summit

Billie Eilish and Rainn Wilson have joined forces with scientists from Arctic Basecamp, calling on world leaders to take urgent action at the United Nations Cop26 climate summit in Glasgow ... Read more »

American flight diverted after passenger assaults attendant, airline says

An American Airlines flight was diverted Wednesday evening after a passenger reportedly assaulted a flight attendant. Flight 976 had departed New York’s John F. Kennedy International Airport and was headed ... Read more »

Italy hosts a climate-focused G20 as geopolitics shift

Italy G20 Diplomacy (Copyright 2021 The Associated Press. All rights reserved) The leaders of Russia and China aren’t coming. Turkey nearly set off a diplomatic incident on the eve of ... Read more »

NS 101: What Is "Exercise Wallaby" And Does It Involve Marsupials?

A successful exercise in Queensland, Australia amid the COVID-19 pandemic reflects our SAF’s commitment to defence and maintaining high-end training. A successful exercise in Queensland, Australia amid the COVID-19 pandemic ... Read more »

Menjelang pembentangan Belanjawan 2022, pengusaha bas rayu bantuan kerajaan

© Provided by MalaysiaNow Menjelang pembentangan Belanjawan 2020, Persatuan Pengusaha Bas Seluruh Malaysia (PMBOA) merayu supaya kerajaan memberikan bantuan kepada mereka kerana terjejas teruk akibat pelaksanaan perintah kawalan pergerakan bagi ... Read more »

Honda Civic Hybrid Spotted in Japan, But It's Not Coming to the US

The 11th-generation Honda Civic is creating plenty of buzz in the automotive world. With new refined styling and upgrades over the outgoing model, it’s brought fresh interest to what is ... Read more »

Coronavirus digest: Singapore investigates 'unusual surge' amid record daily rise

© Provided by dw.com Singapore has recorded its highest single-day rise in COVID-19 cases Singapore is looking into an “unusually high” rise in infections as the city-state recorded an all-time ... Read more »

Gordhan: Power cuts should be over by the weekend

© Provided by eNCA JOHANNESBURG – Public Enterprises Minister Pravin Gordhan says measures are being put in place to reduce the country’s power cuts to Level 2 by the weekend. ... Read more »

Chicago Med: Does Connor's Old Storyline Indicate What's Next For Crockett In Season 7?

© Provided by CinemaBlend dominic rains crockett marcell chicago med nbc Spoilers ahead for the sixth episode of Chicago Med Season 7, called “When You’re A Hammer Everything’s A Nail.” ... Read more »

World faces growing threat of 'unbearable' heatwaves

© Frederic J. BROWN If nothing is done to slow climate change, the record temperatures and deadly heatwaves it brings will only get worse, experts warn From Death Valley to ... Read more »

France warns two British fishing boats in its waters in wake of Brexit

© Reuters/BENOIT TESSIER A sign reading “security area” is pictured at the entrance of the Port of Le Havre PARIS (Reuters) – France gave verbal warnings to two British boats ... Read more »

'These guys don't worry': Astros even World Series with Atlanta at one game apiece behind four-run rally

HOUSTON — The Houston Astros’ biggest stars were immersed in an offensive funk. Their young starting pitcher was coming off a brutal performance. And they were facing a red-hot Atlanta ... Read more »

Man to plead guilty in Mac Miller overdose death, documents say

A plea agreement filed in federal court calls for a 17-year sentence. Three people were indicted in the rapper's 2018 overdose death. Read more »

Homefront: ‘What rights do I have if a bank repossesses my landlord's property?'

© Provided by The National No landlord can evict a tenant without serving a 12-month notice. Even then, there has to be a valid reason for eviction. Alamy I have ... Read more »

Review: Apple's new AirPods find middle ground between high-end and entry level segments

© APPLE INC. HANDOUT Apple’s new AirPods is water and sweat-resistant. EPA A combination of top-of-the-line sound quality and familiar designs all rolled into one makes Apple’s new AirPods the ... Read more »

'We had to change XI thrice': New Zealand coach Gary Stead slams ICC for not allowing Adam Milne to play vs Pakistan

‘Disappointed’ New Zealand head coach Gary Stead questioned ICC for not allowing Adam Milne as a replacement to the inured Lockie Ferguson before their T20 World Cup 2021 opener against ... Read more »

Expert Shares Tips To Get Relief From Nausea During Early Months Of Pregnancy

Pregnancy brings along some unpleasant symptoms which can cause a lot of discomfort through the phase. Morning sickness or nausea is one of the most common symptoms of pregnant women. ... Read more »

T20 World Cup: England outclass Bangladesh by 8 wickets

© Provided by The Times of India If you look at two of the most in-form teams in the ICC T20 World Cup, you will struggle to get past Pakistan ... Read more »

T20 World Cup: Jason Holder Replaces Obed McCoy in West Indies Squad

© Debayan Bhattacharya | India.com Sports Desk Jason Holder (Image: AFP) Dubai, Oct 28: Sunrisers Hyderabad bowler and former Test captain of the West Indies cricket team, Jason Holder gets ... Read more »

Joe Biden is hopelessly out of touch with voters' priorities

Inflation is at its highest level in decades. Store shelves are empty. The southern border is in chaos. Hundreds of Americans are still trapped in Afghanistan. China just tested a ... Read more »

A White hospital executive says he was fired and replaced by two women as part of diversity push. He was just awarded $10 million in a wrongful termination lawsuit

A White man has been awarded a $10 million payout in a wrongful termination lawsuit filed against his former employer, which he said fired him and replaced him with a ... Read more »

Brexit: France detains British trawler as fishing rights row intensifies

France has detained a British trawler and given a verbal warning to another fishing in waters off its coast, the French government has said In a tweet the the French ... Read more »
On free-english-test.com you will find lots of free English exam practice materials to help you improve your English skills: grammar, listening, reading, writing, ielts, toeic