Coal news and updates

Sharp fall in offered, allotted quantities in Aug spot e-auction

September 2: The total allotted quantity of coal under the spot e-auction route by Coal India Ltd (CIL) via the coaljunction platform fell sharply in August as compared to July, according to data available with ICMW.

The total offered quantity in August also dipped from July levels.

The offered quantity in August stood at 0.526 million tons, down from 1.679 mt offered in July whereas the allotted quantity fell to 0.488 million tons from 1.551 million tons in July, the data revealed.

It was expected that the offered and allotted quantities under spot e-auction would decline further in August after a sharp fall in the preceding couple of months following the government directive in May to reduce the quantity of sale under the e-auction route.

As per the 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.

Singareni Collieries Company Ltd (SCCL), on the other hand, had also reduced the quantity of offering for sale through spot e-auction on the coaljunction platform in August to 0.01 mt from 0.212 million tons offered in July.

The allotted quantity of SCCL also dipped sharply to 0.001 mt in August from 0.171 mt in July, according to the data.

Meanwhile, in June, the offered and allotted quantities by SCCL on this platform stood at 0.174 mt and 0.170 mt, respectively while the offered and allotted quantities by CIL during the month of June stood at 1.679 mt and 1.298 mt, respectively.