Coal news and updates

April e-auctions on coaljunction platform see good demand

May 6: Good demand was witnessed for the offerings of coal from Singareni Collieries Company Ltd (SCCL) and subsidiaries of Coal India Ltd (CIL) for allotment through the spot e-auction platform of coaljunction in April, according to information available with ICMW.

Nearly 88.74% of the offering from CIL and 80.56% from SCCL were allotted during April compared to 80.69% of the offering from CIL and 78.63% from SCCL were allotted during March.

In April, CIL had offered a total of 2.22 million tons (mt) of coal for allotment through e-auction of which 1.97 mt were allotted whereas SCCL had offered 0.14 mt out of which 0.11 mt got allotted.

Meanwhile, in March, CIL had offered a total of 3.91 million tons (mt) of coal for allotment through e-auction of which 3.15 mt were allotted whereas SCCL had offered 0.13 mt out of which 0.10 mt got allotted.

This means the total offering from CIL fell by nearly 43.22% in April as compared to March.

The total offering by eight subsidiaries of CIL and SCCL fell by 41.58% to 2.36 mt in April from 6.45 mt offered in March.

On the other hand, in April 2013, CIL's subsidiaries had offered 2.32 mt coal while SCCL offered 0.19 mt for sale through the e-auction platform of coaljunction of which 2.08 mt from CIL and 0.15 mt from SCCL were sold at attractive premium, according to data available with ICMW.

Following are the details of quantity of coal offered and allotted on the coaljunction platform in 2014-15, 2013-14 and 2012-13: