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Mumbai, 8 April (Argus) -- Indian LNG importers may still need to bid for uncommitted LNG cargoes from the Atlantic despite a ceasefire agreed between the US and Iran. Indian LNG importers are issuing a series of spot LNG tenders this week as global prices softened with weaker demand emerging out of Europe and other parts of Asia, which in turn may lead to shippers diverting their uncommitted Atlantic cargoes to India. Indian state-run refiner IOC has raised a total of two spot LNG tenders for ...Read More >
Mumbai, 6 April (Argus) -- Indian producer Jindal Steel has started using synthesis gas (syngas) at its galvanizing and colour coating units to offset natural gas and propane shortages, the company said today. Jindal was previously using syngas to produce direct-reduced iron (DRI), but has now extended its use to downstream operations, a spokesperson told Argus. The shift comes in response to shortages of natural gas and propane stemming from the US-Iran war, which has hampered India's coated ...Read More >
Singapore, 6 April (Argus) -- Premiums at India's domestic coal auctions rose sharply in March with industrial buyers moving to secure supply following a surge in seaborne coal prices and freight rates, led by the US-Iran conflict and pre-summer restocking by power utilities. State controlled Coal India (CIL) -- which meets about three-quarters of India's coal needs -- recorded an average premium of 45pc in its March electronic auctions over the notified prices applied to long-term contracted s ...Read More >
London, 23 February (Argus) -- A slump in imports versus robust offtake kept Indian DAP stocks under pressure in January, leading to the fourth consecutive monthly stock draw, according to government data. Argus estimates India's DAP stocks at the end of January at just below 1.9mn t. India imported just 70,000t of DAP in January, while domestic DAP production was steady at 342,000t. Domestic sales fell seasonally but, at 535,000t, surpassed the average for the same month over the previous thr ...Read More >
Singapore, 2 July (Argus) -- India's coal ministry will speed up project approvals in the mining sector as part of a broader goal to boost domestic output and cut imports, it said on 1 July. The federal coal ministry will unveil a new Exploration Module feature embedded within its single-window clearance system (SWCS) on 4 July to enable submission of digital project proposals for the operationalisation of coal mines in India. The added feature enables a faster process for submission and appro ...Read More >
Singapore, 26 June (Argus) -- Indian metal firm Hindalco has acquired a full stake in US-based alumina producer AluChem for $125mn, it announced on 24 June. Aditya, Hindalco's wholly owned subsidiary, will carry out the acquisition. The transaction is expected to close in the third quarter, pending customary closing conditions and regulatory approvals. AluChem is a specialty-alumina manufacturer with an annual capacity of 60,000t across its three manufacturing facilities in Ohio and Arkansas. ...Read More >
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