China bans Australian Coal, may become very profitable for Indian steelmakers

Australia’s coking coal has been banned by China. This situation is likely to make the Indian steelmakers very profitable in the coming months. The Indian steel manufacturers are Jindal Steel Works (JSW) and Tata Steel. The two are expected to grow their business even further benefiting from this ban since their production cost will now fall by Rs. 1800 per tonne. China and Australia have been coal trade partners for years.

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