India eyes increasing imports of Russian coking coal

India plans to increase imports of coking coal from Russia, Minister of Steel Industry Ramchandra Prasad Singh said, Report informs citing foreign media.

"We are moving in the direction of (growing) imports of coking coal from Russia," Singh said at a conference in New Delhi.

India plans to double imports of Russian coking coal, "a key ingredient in steel production," he said.

According to him, the country had already imported 4.5 million tons, without specifying for what period.

Russia is the sixth largest supplier of coking and thermal coal to India.

Traders report that Russia may start offering more competitive prices to Chinese and Indian buyers. Trade could also be boosted by a trade agreement between the ruble and the rupee.