Coal news and updates

CIL offering on coaljunction down 55% in Apr

May 6: The total offering of coal by CIL subsidiaries through spot e-auction during the month of April 2015 was down to 2.63 million tons (mt) from 5.80 mt in March, 2015, resulting in a 54.66% decrease.  There was no forward e-auction in April.

Of the total offering in March, 2.64 mt was through spot e-auction and 3.16 mt through forward e-auction while the allotted quantity stood at 2.25 mt and 2.50 mt through respective modes.

CIL’s subsidiaries had offered a total of 3.71 mt of various grades for sale through coaljunction in February, up from 3 mt offered in January 2015 and 3.93 mt in December 2014.

The allotted quantity in February was 3.42 mt, while in January it stood at 2.471 mt and 3.14 mt in December.

As per the government directive, CIL was to reduce the sale of coal through the e-auction platform to 25 mt annually as compared to around 58 mt sold in 2013-14.

The decision was taken in view of extremely low stocks with power plants, but with the sharp improvement in supplies to power plants, the company had gradually started increasing its sales through e-auction from November 2014.

Following table provides detail of offered and allotted quantities under spot e-auction of CIL subsidiaries on coaljunction in various months in 2015-16, 2014-15 and 2013-14: