International coal prices have seen a sharp uptick with South African coal doubling to $446 in just 10 days due to Russia-Ukraine crisis. Currently international coal prices are hovering at $370+/tonne, still up 106% from Q3FY22 exit rate and 4.2x higher on a YoY basis. Petcoke prices are also up over 100% YoY, 11% QoQ and currently hovering at ~$225/tonne. Although these steep rises in prices are unsustainable in the long run, these would put cement companies again on the back foot in terms of operating rates at least till the time the situation comes back to normalcy as power & fuel accounts for 27% of total costs. Since most cement companies have average two...