>> With effect from 1Apr’18, the state-run Coal India Limited (CIL) will implement a new pricing policy for its Non Coking coal. In accordance to the new pricing, the coal will be priced on the basis of the per unit of intrinsic calorific value rather than the pricing on the basis of the grades in vogue. The new pricing norms will be in the lines of global practices.
>> The state-run Coal India Limited (CIL) has started supplying coal to 10 odd coal-fired power plants, which had won long-term coal allocation during the first phase of auction in Sep’17. Accordingly, CIL will supply 27 MnT of coal to the power plants annually.
The corresponding auction, called as Scheme for Harnessing and Allocating Koyla Transparently in India (SHAKTI), was for companies without long term fuel supply agreements; and had signed power purchase agreements with discoms.
>> Japanese steel maker—Nippon Steel and Sumitomo Metal(NSSM)—has settled for the Q1 2018 contract price for Pulverised Injection Coal (PCI) at USD 159/MT FoB Australia with Realm Resources, an Australian producer. At the same time, the Japanese steel producer also has agreed upon a contract price for the first quarter 2018 for semi soft Coking Coal at USD 150/MT FoB Australia with Bloomfield, based in Australia.
Remarkably, the contract prices are higher than the corresponding prices in the preceding quarter, despite the demand expected to shrink in the near future.
Leave a Reply