* Weak rupee pushes coal costs up 20 pct-trade
* S. Africa, Indonesia exporters expect India import growth
to slow
* Sponge iron makers seen taking more lower-grade coal
* Utilities hard hit, more blackouts seen in 2012
By Jacqueline Cowhig
LONDON, Jan 10 (Reuters) – India’s coal imports, key
to global benchmark prices, are likely to see slower growth in
2012 because of a record weak rupee which is squeezing users
such as utilities and cement makers, importers and suppliers
said.
India and China are Asia’s biggest and fastest-growing coal
importers and key markets for all origins of coal.
And with benchmark South African coal prices down more than
16 percent from year-ago levels at around $105 a tonne, the
assumption would be for the Indians to buy more.
But India’s currency has also taken a beating, and costs in
rupees have risen by around 20 percent in the past year, some of
India’s biggest trade importers say.
Continued…
