India steel ministry seeks abolition of met coal import tax

(Bloomberg) — India’s steel ministry is seeking to remove import tax on coking coal to soften the impact of rising costs on users of the key steel-making fuel and promote production of the alloy that’s crucial for Prime Minister Narendra Modi’s plan to boost domestic manufacturing. The ministry has written to the finance department to consider[…]

Russia's Mechel says has enough creditor support for restructure of $1bn loan

Russian coal and steel producer Mechel said that talks with banks on restructuring a $1 billion syndicated loan had concluded successfully. Mechel, which is controlled by businessman Igor Zyuzin and came close to bankruptcy last year, had circulated the final draft of a restructuring proposal among its creditors last week. It needed the support of[…]