Coal news and updates

May e-auctions on coaljunction platform see good demand

June 3: 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 May, according to information available with ICMW.

Nearly 93.69% of the offerings from CIL and 80.46% from SCCL were allotted during May as compared to 88.74% of the offerings from CIL and 80.56% from SCCL allotted during April.

In May, CIL had offered a total of 3.96 million tons (mt) for allotment through e-auction of which 3.71 mt were allotted whereas SCCL had offered 0.30 mt out of which 0.24 mt got allotted.

Meanwhile, in April, CIL had offered a total of 2.22 mt for allotment through e-auction of which 1.97 mt were allotted whereas SCCL had offered 0.14 mt out of which 0.11 mt got allotted.

This means the total offering from CIL rose by nearly 78.38% in May as compared to April.

The total offering by eight subsidiaries of CIL and SCCL rose by 80.51% to 4.26 mt in May from 2.36 mt offered in April.

On the other hand, in May 2013, CIL’s subsidiaries had offered 1.85 mt while SCCL offered 0.23 mt for sale through the e-auction platform of coaljunction of which 1.48 mt from CIL and 0.19 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: