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In the first two months of the current financial year, April-May 2021, electronic auction bookings for the state-run Coal Corporation of India (CIL) grew by 52.
5%.
The company's total allocation under the five auction windows this fiscal year to May rose to 21.
5 million mt, compared with 14.
1 million mt a year earlier, a company executive said.
As coal demand increased, CIL received a premium of 16% above the notified price in April-May, compared to 7%
in the same period last year.
To encourage coal consumers to add additional quantities of coal, during the first six months of the previous fiscal year, the floor price under all electronic auction windows was aligned
with the notified price.
The upward trend in distribution was mainly driven by the non-electricity sector, which accounted for 50%
of gross bookings.
Electronic auction bookings by consumers in the power sector also rose 49% to 6.
1 million tonnes, compared to 4.
1 million tonnes in the same period last year.
"Despite the recovery in supply in the power sector, we are concerned that there is still some volatility
in demand.
We hope that it stabilizes
soon.
The executive said
.
Auction allocations under the "spot auction" window, in which all coal consumers, including coal traders, can participate, also increased by 35% to 4.
6 million mt
as of May 21.
CIL recorded an all-time high of 124 million tonnes in electronic auction sales in FY 2020-21, up 88%
from the previous year.
"If demand returns to stability, we aim to go beyond last year's level and increase the added value of notified prices without reducing supply commitments
to the power sector and non-power sectors.
"
In the first two months of the current financial year, April-May 2021, electronic auction bookings for the state-run Coal Corporation of India (CIL) grew by 52.
5%.
The company's total allocation under the five auction windows this fiscal year to May rose to 21.
5 million mt, compared with 14.
1 million mt a year earlier, a company executive said.
As coal demand increased, CIL received a premium of 16% above the notified price in April-May, compared to 7%
in the same period last year.
To encourage coal consumers to add additional quantities of coal, during the first six months of the previous fiscal year, the floor price under all electronic auction windows was aligned
with the notified price.
The upward trend in distribution was mainly driven by the non-electricity sector, which accounted for 50%
of gross bookings.
Electronic auction bookings by consumers in the power sector also rose 49% to 6.
1 million tonnes, compared to 4.
1 million tonnes in the same period last year.
"Despite the recovery in supply in the power sector, we are concerned that there is still some volatility
in demand.
We hope that it stabilizes
soon.
The executive said
.
Auction allocations under the "spot auction" window, in which all coal consumers, including coal traders, can participate, also increased by 35% to 4.
6 million mt
as of May 21.
CIL recorded an all-time high of 124 million tonnes in electronic auction sales in FY 2020-21, up 88%
from the previous year.
"If demand returns to stability, we aim to go beyond last year's level and increase the added value of notified prices without reducing supply commitments
to the power sector and non-power sectors.
"
