coal india
With the ongoing Russia-Ukraine crisis, the overall commodity prices are witnessing spike, including crude oil and metals. In this regard, the European coal surged to historic highs as sanctions against Russia for its assault on Ukraine tightened the global market supply.
Hence, the benchmark thermal coal in Asia, which is the largest market for the fuel, soared 46 per cent to a record as concerns about disruption to supplies from Russia turbocharged concerns over tight energy markets, as per the Bloomberg report.
According to ICE Futures, Europe Futures for high-quality thermal coal loaded on ships at Newcastle port in Australia jumped to $446 a tonne on Wednesday, adding $140.55 in a single day and rising to the highest in data back to 2008.
During Q3FY22, Coal India had delivered a strong performance despite hurdles like heavy rainfall and the pandemic, impacting physical performance.
Hence, the benchmark thermal coal in Asia, which is the largest market for the fuel, soared 46 per cent to a record as concerns about disruption to supplies from Russia turbocharged concerns over tight energy markets, as per the Bloomberg report.
According to ICE Futures, Europe Futures for high-quality thermal coal loaded on ships at Newcastle port in Australia jumped to $446 a tonne on Wednesday, adding $140.55 in a single day and rising to the highest in data back to 2008.
During Q3FY22, Coal India had delivered a strong performance despite hurdles like heavy rainfall and the pandemic, impacting physical performance.
Note
Coal Ministry said that it is considering partnerships with private companies to operate mines that had been previously shut or seen discontinued production by the state-owned company.Coal India, which accounts for over 80 per cent of India's output, was looking to offer more than 100 such mines to the private sector on a revenue-sharing basis in "due course of time,"
Read more at:
economictimes.indiatimes.com/markets/stocks/news/coal-india-jumps-4-as-govt-mulls-offering-100-mines-to-private-sector/articleshow/89817505.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.