Steel Authority of India Ltd (SAIL) on Wednesday said it will import about 11 million tonnes of coking coal this fiscal, lower than the imports in 2008-09 due to the recession and the subsequent fall in demand.
“SAIL plans to import 10-11 million tonnes of coking coal this fiscal. Imports may bounce back to 13 million tonnes of coal next fiscal as we are witnessing a recovery in demand.
Every month is better than the past month,” a SAIL official said here on the sidelines of the coal summit.
The official further added that this year imports are low because of the recession and fall in demand. Imports for last fiscal stood at 13 million tonnes.
“We have long term contracts with coking coal producers including BHP Billiton” the official added.
He said that over 70 per cent imports are from Australia and about 30 per cent from US.
“Annually we need 15 million tonnes of coking coal,” official added.