Having registered a 76 per cent spurt in its e-auction sales between April- December, state-run Coal India expects to achieve record spot sales of about 120 milion tonnes in the current year.
“Auction sales have surpassed our previous estimates and we feel sure of allocating 120 MTs of coal by the end of the current fiscal” a senior official of the company said.
The coal miner booked 81.4 MTs of coal under five auction windows progressive upto December’20 displaying 35.2 MTs volume expansion compared to 46.2 MTs it booked same period a year ago.
Beginning October’20 of the current FY CIL introduced special spot auction for coal importers, under which it has booked 7.3 MTs in three months.
Due to increased demand, the premium over notified price has also increased since October. CIL has netted 15 per cent premium during April-December’20. Among the subsidiaries, Eastern Coalfields Limited clocked the highest 40 per cent increase over the notified prices with Central Coalfields Limited and Bharat Coking Coal Limited registering 23 per cent and 22 per cent respectively, the official said.
“We have identified specific mines in ECL, BCCL, CCL and SECL from where the response has been positive in e-auction and there is potential for further increase,” he said.
Non-Power Sector consumers, under an exclusive auction window, booked 19.8 MTs during the first nine months of the ongoing fiscal posting more than a three-fold increase against 6.8 MTs the sector booked on a year-on-year comparison.
For December’20 CIL allocated 13.1 MTs of coal, 72 per cent growth compared to 7.6 MTs of December’19. Premium earned over the notified price was 25 per cent. December’20 saw a significant increase in bookings from power sector under special forward auction at 5.1 MTs compared to 0.5 MTs the same month year ago fetching a premium of 12 per cent.
