Coal news and updates

Shree unlikely to immediately procure imported pet coke or US coal

March 20: Shree Cements Ltd is unlikely to finalise any deal to procure imported pet coke or US steam coal in the coming few weeks, industry sources claimed.

Shree Cement had recently finalised a deal to procure 0.5 million tons of US steam coal at around $95-96 per ton CFR India and had not procured imported pet coke in recent times.

"The company may, however, take a call on to either buy US steam coal or imported pet coke, depending on the outcome of its ongoing negotiation with Reliance Industries Ltd to procure pet coke from its Gujarat refineries in Q1 of 2014-15," the sources felt.

"The pet coke allocation to Shree Cement from RIL will be known by March-end," the source added.