Indian steel producers demand government involvement in the indexing of coking coal prices.

The largest steel producers in India are requesting government intervention to regulate the cost of raw materials, namely iron ore and coking coal.Mills has allegedly urged the government to advocate for a "more realistic" price discovery system after pointing out problems with the way that foreign players are determining the price of coking coal. 

Steel producers have demanded intervention and action regarding two important price indexes, Platts and Argus Indexation, which "remain subjective" in determining the price of coking coal. These demands have been made through the Indian Steel Association (ISA), which is made up of AM/NS India, JSW, Tata Steel, Jindal Steel & Power, and PSUs like SAIL and RINL. 

It has been argued that the two indices do not accurately represent the price.

The ISA stated that import prices are based on Platts and Argus Indexation, which appear to be "subjective" and that "without any actual transaction, index moves up." 

The pricing of a significant amount of coal has been said to be correlated with the average monthly index pricing that these companies report. Accordingly, the cost for December will be equal to the average monthly cost determined in November, and so forth. 

The price is determined by the minimal quantity of further liquidity in the spot market, which is as low as 4–6%, and at most 10%. This is particularly true in India. specific coal suppliers' agreements with their sister trading businesses, or trader-to-trader bids and offers in the absence of a deal, according to specific steel mills, are also recorded in the index price and affect the discovery process, which includes spot pricing.