The company registered e-auction sales of 30.2 million tonnes (MTs), during Q1 FY’22. Auction sales were down at 15.9 MTs, during pandemic slowdown, as of the first quarter of last fiscal, a company statement said.
CIL’s e-auction allocation at 35.5 MTs during April-July’21, under five auction categories, increased by nearly 8 million tonnes (MTs) registering a 28.6% over same period year ago, when the allocation stood at 27.6 MTs.
“With international coal prices spiraling upwards with no signs of let up, consumer preference for domestic coal is seemingly gaining ground,” the statement said.
The effect of ascending cost of coal sourced from overseas was evidenced in the country’s coal importers booking 70% of the total quantity of 2.4 MTs offered to them under their special spot e-auction during April-July’21. The add-on over the notified price under this category was 52%, it said.
For the month of July’21 almost all the quantity of 1.6 MTs offered to coal importers under exclusive special e-auction window was booked.
Under exclusive auction for non-power consumers the allocation was 11.8 MTs during the first four months of the current fiscal logging around 69% growth. Last year same period 7 MTs was booked by them.
Power Sector as well clocked 37.5% growth under special forward auction at 11 MTs during the referred period. Quantity booked by this sector same period last year was 8 MTs.
For the month of July’21 CIL allocated a total volume of 8.3 MTs with a month-on-month rise of 2.5 MTs compared to 5.8 MTs of June’21. Auction bookings in a month grew by 43%. Compared to July of last year, the allocation was up 9%.
Premiums over notified value are improving with revival in coal sales. Enhanced volume sales coupled with add-ons would lead to a positive impact on the company’s bottom line, the statement said.
