Coal news and updates

Dec e-auctions on coaljunction platform see good demand

January 3: 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 December, according to information available with ICMW.

Nearly 81.39% of the offering from CIL and 71.79% from SCCL were allotted during December compared to 77.41% from CIL and 89.13% from SCCL during November.

In December, CIL had offered a total of 5.30 million tons (mt) of coal for allotment through the e-auction of which 4.32 mt were allotted whereas SCCL had offered 0.27 mt out of which 0.19 mt got allotted.

In November, CIL had offered a total of 5.89 million tons (mt) of coal for allotment through e-auction of which 4.56 mt was allotted whereas SCCL had offered 0.09 mt out of which 0.08 mt was allotted.

This means the total offering from CIL reduced by nearly 10.02% in December as compared to November.

The total offering by seven subsidiaries of CIL and SCCL fell by 6.69% to 5.58 mt from 5.98 mt offered in November.

On the other hand, in December 2012, CIL subsidiaries had offered 2.67 mt coal while SCCL offered 0.25 mt for sale through the e-auction platform of coaljunction of which 1.73 mt from CIL and 0.19 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 2013-14 and 2012-13:

Source: coaljunction