Coal news and updates

Good demand in Oct e-auction on coaljunction platform

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

Nearly 83.43% of the offering from CIL and 69.23% from SCCL were allotted during the month of October compared to 87.32% of the offering from CIL and 91.84% from SCCL allotted during the month of September.

In October, CIL had offered a total of 3.62 million tons (mt) through e-auction of which 3.02 mt was allotted whereas SCCL had offered 0.13 mt out of which 0.09 mt was allotted.

However, in September, CIL had offered a total of 3.39 mt of coal for allotment through e-auction of which 2.96 mt was allotted whereas SCCL had offered 0.098 mt out of which 0.09 mt was allotted.

The total offering by six subsidiaries of CIL and SCCL rose by 7.51% to 3.75 mt from 3.488 mt that was offered in September.

On the other hand, in October 2012, CIL subsidiaries had offered 1.48 mt coal while SCCL offered 0.171 mt for sale through e-auction platform of coaljunction of which 1.36 mt from CIL and 0.17 mt from SCCL were sold at attractive premium, according to data available with ICMW.