Coal news and updates

Slight hike in allotted quantity in July spot e-auction

August 5: The total allotted quantity of coal under the spot e-auction route by Coal India Ltd (CIL) via the coaljunction platform increased marginally in July as compared to June, according to data available with ICMW.

However, the total offered quantity in July remained unchanged at June levels.

The offered quantity in July stood at 1.679 million tons, same as that in June, whereas the allotted quantity increased to 1.551 million tons from 1.298 million tons in June, the data revealed.

It was expected that the offered and allotted quantities under spot e-auction would decline further in June after a sharp fall in that month 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 e-auction platform to 25 million tons annually as compared to around 58 million tons sold in 2013-14.

Singareni Collieries Company Ltd (SCCL), on the other hand, had increased the quantity of offering for sale through spot e-auction on coaljunction platform in July to 0.212 million tons from 0.174 million tons offered in June.

However, the allotted quantity of SCCL remained virtually unchanged at 0.171 mt in July from 0.170 mt in June, according to the data.