Coal news and updates

Nov e-auctions on coaljunction platform see good demand

December 4: Good demand was witnessed for the offerings of coal 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 November, according to information available with ICMW.

Nearly 77.41% of the offering from CIL and 89.13% from SCCL were allotted during November compared to 83.43% from CIL and 69.23% from SCCL allotted during the month of October.

In November, CIL had offered a total of 5.89 million tons (mt) of coal for allotment through e-auction of which 4.56 mt was allotted whereas SCCL had offered 0.09 mt out of which 0.08 mt was allotted.

However, in October, CIL had offered a total of 3.62 mt of coal for allotment through e-auction of which 3.02 mt was allotted whereas SCCL had offered 0.13 mt out of which 0.09 mt was allotted.

This means the total offering from CIL increased by nearly 63% in November as compared to October.

The total offering by seven subsidiaries of CIL and SCCL rose by 54.52% to 5.98 mt from 3.87 mt that was offered in October.

On the other hand, in November 2012, CIL subsidiaries had offered 4.26 mt coal while SCCL offered 0.40 mt for sale through the e-auction platform of coaljunction of which 3.68 mt from CIL and 0.37 mt from SCCL were sold at attractive premium, according to data available with ICMW.

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

Source: coaljunction