Coal news and updates

Apr spot allotment via other platform down 16% m-o-m

The total offering of coal through the spot e-auction conducted by Coal India (CIL) subsidiaries during April 2016 on the MSTC platform stood at 7.18 million tons (mt), down 16.02% compared to 8.55 mt offered in March 2016, as per data available with ICMW.
        
But of the offered quantity through spot e-auction in April 2016, 4.21 mt was allotted, down 8.08% month-on-month from 4.58 mt allotted in March 2016.
 

An analysis of the auction revealed that higher grades of coal (G5 and above) met with poor response as the consumers are still finding it expensive to purchase these in view of continued low prices of imported coal of same origin.

There was, in fact, no offering of G1 and G2 grades on this platform in April, while G3 -G5 grades met with poor response.