Analysts estimate e-auction volumes of 108 million tonnes (MT) in FY25 and 120 MT for FY26, which is encouraging given the premium of e-auction prices which are consistently over 50 per cent higher than FSA. Global coal prices are down, due to oversupply in China and e-auction prices remain rangebound between between ₹2,300-2,600/tonne Nov'23-Apr 24 VS ₹3,431/tonne in April, 2023.
Government policy is to reduce coal imports (269 MT in FY24, up 11 per cent YoY) and increase domestic production through faster operationalisation of more mines and increasing participation of the private sector. The Ministry of Coal has allocated or auctioned 161 coal mines with peak rated capacity of 575 MT. Of these, 54 are in operation, producing 147 MT in FY24.
This story is from the July 03, 2024 edition of Business Standard.
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This story is from the July 03, 2024 edition of Business Standard.
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