Home News Top News Coal prices may rise: Analysts

    Coal prices may rise: Analysts

    376
    Coal prices

    In the domestic market, spot e-auction prices have already crossed Rs 1,650 per tonne at recent auctions and analysts believe it will cross Rs 1,700 by early January beyond which it will rise further over the next three months before softening.

    Between now and March next year, Coal India is likely to offer an additional 30 million tonnes of coal, ending the financial year with a total of 100 million tonnes.

    “Despite a likely revival of production by Coal India in the second half of the fiscal, outlook on domestic coal prices in the near term remains positive,” said Jayanta Roy, senior vice-president and group head-corporate sector ratings at ICRA.

    “Incremental demand from sponge iron players on the back of better industry prospects would support coal prices in the e-auction market.” Deepak Kanna, managing director at S&P Global Platts, said rains in Indonesia continue to impact international supply and vessel loading schedules amid winter-restocking demand from China.

    Read More: Coal ministry invites candidates for Coal India chairman’s post

    Info: economictimes

    LEAVE A REPLY

    Please enter your comment!
    Please enter your name here