India may have imported coal from Russia at a discount ...Middle East

Quartz - Economy
India may have imported coal from Russia at a discount
source : Quartz ( Middle East ) () 29
Russia is increasingly India’s go-to destination for key commodities, thanks to steep discounts. It was crude oil earlier; it is coal now.India is being offered Russian coal at a discount of around $10 per metric tonne over Australia’s Newcastle thermal coal. The payment mechanism, timing, and deliveries are, however, under negotiation.With global coal prices doubling in the wake of the Ukraine war, Indian buyers have been scrambling for lucrative Russian offers. India uses coal to generate about 70% of its electricity.Read the rest of this story on qz.com. Become a member to get unlimited access to Quartz’s journalism.

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