Coal news and updates

March e-auctions on coaljunction platform see good demand

April 2: 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 March, according to information available with ICMW.

Nearly 80.69% of the offering from CIL and 78.63% from SCCL were allotted during March compared to 85.85% of the offering from CIL and 94.54% from SCCL being allotted during February.

In March, CIL had offered a total of 3.91 million tons (mt) of coal for allotment through e-auction of which 3.15 mt were allotted whereas SCCL had offered 0.13 mt out of which 0.10 mt got allotted.

Meanwhile, 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.

This means the total offering from CIL fell by nearly 36.42% in March as compared to February.

The total offering by eight subsidiaries of CIL and SCCL fell by 37.36% to 4.04 mt in March from 6.45 mt offered in February.

On the other hand, in March 2013, CIL's subsidiaries had offered 4.94 mt coal while SCCL offered 0.23 mt for sale through the e-auction platform of coaljunction of which 3.93 mt from CIL and 0.18 mt from SCCL were sold at attractive premium, according to data available with ICMW.

In fact, during the last quarter of 2013-14, out of 14.52 mt of coal offered for allotment via the coaljunction platform by CIL and SCCL, a total of 11.98 tons got allotted while during Q3, out of 15.43 mt offered, 12.35 mt got allotted.

Following are the details of quantity of coal offered and allotted on the coaljunction platform in 2013-14 and 2012-13:

Source: coaljunction