Coal news and updates

June e-auctions on coaljunction platform see good demand

July 4: 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 June, according to information available with ICMW.

Nearly 85.73% of the offerings from CIL and 97.7% from SCCL were allotted during June as compared to 93.69% of the offerings from CIL and 80.46% from SCCL allotted during May.

In June, CIL had offered a total of 1.514 million tons (mt) for allotment through e-auction of which 1.298 mt were allotted whereas SCCL had offered 0.174 mt out of which 0.170 mt got allotted.

Meanwhile, in May, CIL had offered a total of 3.960 mt for allotment through e-auction of which 3.710 mt were allotted whereas SCCL had offered 0.300 mt out of which 0.240 mt got allotted.

This means the total offering from CIL fell by nearly 61.77% in June as compared to May.

The total offering by six subsidiaries of CIL and SCCL fell by 60.33% to 1.69 mt in June from 4.26 mt offered in May.

On the other hand, in June 2013, CIL’s subsidiaries had offered 2.91 mt while SCCL offered 0.216 mt for sale through the e-auction platform of coaljunction of which 2.43 mt from CIL and 0.155 mt from SCCL were sold at attractive premium, according to data available with ICMW.

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