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India's state-owned coal company (CIL) said on Thursday that sales from electronic coal auctions rose 77 percent to 68.
3 million mt in five windows between April and November of the current fiscal year.
In absolute terms, the amount of coal scheduled or allocated surged by nearly 30 million tonnes, compared with 38.
6 million tonnes
in the same period last year, CIL said in a statement.
Exclusive auctions in this sector show an increase in demand from non-electricity consumers, with auctions of 17.
4 million tonnes, representing 25.
5%
of the total allocated in the aforementioned period.
This represents an increase of more than 262%
compared to the 4.
8 million mt booked by non-electric users in the same period last year.
The November e-auction not only saw a 9.
4 million tonne increase in bookings, but also a 23.
7% increase over the same period last year, and CIL prices could also be 30%
higher than the announced price.
This is a huge leap
from the 13% premium received at the auction in October.
Given the market's reaction to electronic auctions, bookings are likely to exceed 100 million tonnes
in the current fiscal year.
The "Special Spot Auction for Coal Importers" also received a positive response, with 3.
3 million mt ordered in November, representing a 21%
premium.
This is double the 1.
6 million mt booked in October, the first time CIL introduced this window, when the premium was 14%.
A senior executive at the company said: "For now, the focus is still on the number of electronic auction sales, not on attaching to
the reserve price.
”
Given that the power sector accounts for 80% of CIL's total offtake scheme, it is not feasible
for the non-power sector to fully offset the demand shortfall in the power sector.
However, demand from the non-power sector is on the rise and there is room for further growth
.
In order to increase freight volume and replace imported coal with domestic coal, CIL has communicated with more than 300 coal importers to seek supplies
from within China.
India's state-owned coal company (CIL) said on Thursday that sales from electronic coal auctions rose 77 percent to 68.
3 million mt in five windows between April and November of the current fiscal year.
In absolute terms, the amount of coal scheduled or allocated surged by nearly 30 million tonnes, compared with 38.
6 million tonnes
in the same period last year, CIL said in a statement.
Exclusive auctions in this sector show an increase in demand from non-electricity consumers, with auctions of 17.
4 million tonnes, representing 25.
5%
of the total allocated in the aforementioned period.
This represents an increase of more than 262%
compared to the 4.
8 million mt booked by non-electric users in the same period last year.
The November e-auction not only saw a 9.
4 million tonne increase in bookings, but also a 23.
7% increase over the same period last year, and CIL prices could also be 30%
higher than the announced price.
This is a huge leap
from the 13% premium received at the auction in October.
Given the market's reaction to electronic auctions, bookings are likely to exceed 100 million tonnes
in the current fiscal year.
The "Special Spot Auction for Coal Importers" also received a positive response, with 3.
3 million mt ordered in November, representing a 21%
premium.
This is double the 1.
6 million mt booked in October, the first time CIL introduced this window, when the premium was 14%.
A senior executive at the company said: "For now, the focus is still on the number of electronic auction sales, not on attaching to
the reserve price.
”
Given that the power sector accounts for 80% of CIL's total offtake scheme, it is not feasible
for the non-power sector to fully offset the demand shortfall in the power sector.
However, demand from the non-power sector is on the rise and there is room for further growth
.
In order to increase freight volume and replace imported coal with domestic coal, CIL has communicated with more than 300 coal importers to seek supplies
from within China.
