Coal Prices

Coal India Chairman Pramod Agrawal on Monday said there is a "strong case" for increasing coal prices, and the hike could be effected "very soon" as discussions are underway with stakeholders. Agrawal also said he is confident the mining behemoth will achieve its production target of 1 billion tonnes by 2025-26. "There is a strong case for increasing coal prices, as that has not happened in the last five-odd years. This year, the wage negotiation has taken place as well, which will have an impact on CIL's financial condition, especially for a few subsidiaries where the manpower cost is very high. "There will be a lot of problems if prices are not hiked. Discussions are underway with stakeholders... It will happen very soon," Agrawal said at the Indian Coal Markets Conference here organized by Mjunction. Elaborating on the 1 billion tonne production target, he said though CIL is on course to achieve this by 2025-26, it will depend on factors like the need of the country and the grow

The increased price of coal continue to be a drag on the margin of domestic base metal players with no immediate relief in sight, rating agency ICRA said on Thursday. In a recent note on the primary base metal industry, ICRA said that the earnings of the industry would continue to remain under pressure in the second half of the current fiscal, following a dull performance in the first half of FY'23. "Elevated coal costs along with metal price corrections remain the key headwinds affecting the margins, with no immediate relief in sight," ICRA said in a statement. On account of input cost pressures, the rating agency said it has revised its estimates of operating profitability of domestic players downward to 18 per cent in the current fiscal. ICRA's operating profitability forecast for domestic players is almost 3 percentage points lower compared to its earlier forecast made in September last year and 10 percentage points lower compared to FY'22. "In FY2024, while some respite is ..

Coal India, companies with captive coal mines in steel, power and other sectors will be at an advantage

A spike in coal prices has increased cost of generation

Currency depreciation of over 6% may have supported uptrend; industry players confident that prices have bottomed out

Coal India on Thursday informed investors that increasing coal prices remains difficult in the current context when the economy is grappling with high inflation. The miner was seeking to raise prices to mitigate high input costs on account of high diesel and explosives prices, among others. Coal India has not raised prices in the last four years. "All stakeholders are not coming on board," Coal India chairman Pramod Agrawal told analysts, responding to questions on coal price. Coal India was rather focussing on ramping up production and cost control to overcome the cost pressure. The miner posted its best-ever profit for the April-June quarter, backed by high demand for coal. It posted a 179 per cent year-on-year rise in its consolidated net profit to Rs 8,832.86 crore for the first quarter. Coal India was hopeful of reaching close to the H1 production target of 306 million tonne by September. For FY23, the annual production target is 700 million tonne. Coal India expects to ach

The domestic market has also seen a sharp correction in steel prices from peak levels

Both coal and crude oil grew 16 per cent year-on-year (YoY), accounting for 105 mt and 65 mt of traffic in the first quarter, even on the back of record high prices

It still beat Q1 estimates despite decline on both YoY and sequential bases

CIL has called for bids to supply 2.4 mt of coal to be delivered for the July to September 2022 period

The geopolitical tensions between Russia and Ukraine have resulted in sharp increase in pet coke and coal prices, thereby, denting overall profitability of the business.

Global coal prices are near record highs due to fears of a supply crunch following the European Commission's decision to ban coal imports from Russia after its invasion of Ukraine

Global coal prices are near record highs due to fears of a supply crunch following the European Commission's decision to ban coal imports from Russia after its invasion of Ukraine

The move by India, the world's second largest coal importer, could lead to a further increase in global prices, which are already trading near record highs

State allows all companies to raise power tariffs all across; Maharashtra now joins growing list of States to have allowed higher electricity tariff

India's top electricity producer NTPC Ltd's coal imports this financial year will be highest in 8 years despite near-record prices, as it looks to address domestic shortage, 2 senior officials said

With international coal prices increasing further now, this trend in likely to continue in FY23 as well, putting pressure on domestic miners to ramp up production

Analysts believe current input cost headwinds are transitory as likely price hikes by companies will help aid margin pressures.

Indian coal prices have surged in auctions held by the country's state-run miner, with domestic buyers rushing to secure supplies as global disruptions push up the cost of imported fuels

The price of coal in the global market touched a record high of $400 per tonne last week, due to the Russia-Ukraine war