Coal news and updates

March spot allotment via other platform up m-o-m

April 27: Taking a cue from the sharp increase in offering of coal through the forward e-auction route, total offering of coal by CIL subsidiaries during March 2015 on the MSTC platform jumped by 19.15% to 4.511 million tons (mt) from a low of 3.786 mt in February.

However, it may be recalled that there was no forward e-auction in February.

Of the total offering in March, 4.403 mt was offered through spot e-auction and 0.11 mt through forward e-auction while the allotted quantities under both routes stood at 3.706 mt and 0.099 mt respectively.

In February 2015, out of the total 3.786 million tons (mt) offered for allotment by the subsidiaries of Coal India Limited (CIL), 2.886 mt had got allotted.
In January 2015, a total of 4.161 mt of coal was offered for allotment by the subsidiaries of Coal India Limited (CIL) out of which 3.488 mt got allotted.
As per a government directive, CIL was to reduce the sale of coal through the e-auction platform to 25 mt annually as compared to around 58 mt sold in 2013-14.

The decision was taken in view of the extremely low stocks with power plants, but with the sharp improvement in supplies to power plants, the company had gradually started increasing its sale through e-auction from November 2014 onwards.