UltraTech buys cheaper Russian coal at $164/ MTULTRACEMCO - 9355 Change: 141.55 (1.54 %)
News: The company has bought 1,57,000 tonnes of coal in Chinese Yuan from Russian producer at $25.81 million. (~$164 per tonne).
Views: Although the quantity is very small compared to its overall requirement, the deal price is at 50% discount to South Africa coal price and 20% discount to Australia coal price. If this buying trend continues, then coal inflation is expected to ease over the medium to long term.