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Feb e-auctions on coaljunction platform see good demand

05 Mar 2014

March 5: 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 February, according to information available with ICMW.

Nearly 85.85% of the offering from CIL and 94.54% from SCCL were allotted during February compared to 78.57% of CIL's offerings and 81.82% from SCCL allotted during January.

In February, CIL had offered a total of 6.15 million tons (mt) of coal for allotment through e-auction of which 5.28 mt were allotted whereas SCCL had offered 0.29 mt out of which 0.27 mt got allotted.

Meanwhile, in January, CIL had offered a total of 3.92 million tons (mt) of coal for allotment through e-auction of which 3.08 mt were allotted whereas SCCL had offered 0.11 mt out of which 0.09 mt got allotted.

This means the total offering from CIL increased by nearly 56.89% in February as compared to January.

The total offering by seven subsidiaries of CIL and SCCL rose by 60% to 6.45 mt from 4.03 mt offered in January.

On the other hand, in February 2013, CIL's subsidiaries had offered 2.5 mt coal while SCCL offered 0.62 mt for sale through the e-auction platform of coaljunction of which 1.84 mt from CIL and 0.37 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:

 Month

2013-14

2012-13

Offered Qty (In mt)

Allocated Qty (In mt)

Offered Qty (In mt)

Allocated Qty (In mt)

April

2.51

2.21

2.32

2.02

May

2.08

1.67

2.93

2.49

June

3.13

2.59

2.95

2.52

July

3.6

3.09

1.41

1.28

August

3.07

2.26

2.72

2.06

September

3.48

3.05

2.63

2.4

October

3.87

3.2

1.82

1.7

November

5.98

4.64

4.66

4.05

December

5.58

4.51

2.92

1.92

January

4.03

3.17

4.64

3.62

February

6.45

5.55

3.12

2.21

March

 

 

5.17

4.11

Total (April-Feb)

43.78

35.94

32.12

26.27

Total (April-March)

43.78

35.94

37.29

30.38

Source: coaljunction