Coal news and updates

Moderate demand for coal offerings in August e-auction

September 4: A moderate demand was witnessed for the offerings 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 August, according to information available with ICMW.

Nearly 73.24% of the offering from CIL and 81.71% from SCCL were allotted during the month of August compared to 85.71% from CIL and 90% from SCCL allotted during the month of July.

CIL had offered a total of 2.99 million tons (mt) of coal for allotment through e-auction in August of which 2.19 mt were allotted whereas SCCL had offered 0.082 mt out of which 0.067 mt were allotted.

In July, CIL had offered a total of 3.5 mt of coal for allotment through e-auction of which 3 mt were allotted whereas SCCL had offered 0.1 mt out of which 0.09 mt were allotted.

However, overall allotment of coal under spot e-auction in July fell by 0.83 mt or by 26.86% to 2.26 mt from 3.09 mt in July.

The total offering by six subsidiaries of CIL and SCCL also fell by 14.67% to 3.072 mt from 3.6 mt that were offered in July.