>>Coal prices in India at E-auctions have risen under the influence of stronger demand from the power sector.
According to the latest inputs received, coal prices at E-auctions in Jan’18 rose to INR 2,029/MT, which was up from the average price of INR 1,998/MT during the Oct-Dec’17 period. During the Apr-Dec’17 period, the average auction prices were at INR 1,738/MT, as learnt.
>> In a significant development towards the actuation of the commercial coal mining in India, the Coal Ministry is learnt to have finalized the coal blocks to be auctioned in the first phase of the maiden coal mining process in India.
The Ministry has finalized coal blocks in four states of the country that bear at least 50 MnT of coal reserves. The following are the coal blocks in the respective states:
Odisha: Chendipada I, Chendipada-II, Mahanadi and Machhakata blocks.
Chhattisgarh: are Shankarpur Bhatgaon II Extension, Durgapur II/Taraimar, Durgapur II/Sariya and Madanpur (North)
Madhya Pradesh: Dongri Tal-II
Jharkhand: Mednirai
>>Coal mining activity has restarted in China after the Lunar Year holidays. The activity is expected to gather momentum after 2Mar’18, which is celebrated as the Lantern festival.
Also, domestic sea freight rates for coal cargoes have risen by around Yuan 3/MT after the holidays.
China’s Thermal Coal imports in Jan’18 were up by around 23% to 11.75 MnT against the imports of 9.58 MnT in Jan’17.
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