Coal India (CIL), the world’s largest coal miner by output, is reportedly planning to put up more coal for e-auctions. Even as global coking coal - also known as metallurgical coal - prices crossed $190-a-tonne mark recently, CIL decided not to increase its prices, to remain competitive and become a substitute to imports.
This festival season, Coal India will put up 20 million tonnes (mt) coal for e-auction, where both the regulated and the non-regulated sectors, including traders, will be able to participate. Coking coal constitutes a third of steel sector’s total costs. The volatile global coking coal prices are straining the balance sheets of steel companies in the country.
Coal India is the world’s largest coal mining company. It also produces non-coking coal and coking coal of various grades for diverse applications.
