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Coal index launching soon to track the coal price movement in India


 


 


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India's leading e-commerce company Mjunction Services Ltd will launch the index in the second week of July, a company official said Tuesday.

 

"A present there is no credible price index to track coal prices in the country. There are four coal indexes all over the world. Soon we are going to get one," Viresh Oberoi, managing director and chief executive of Mjunction (formerly Metal Junction), told IANS here.

 

The four existing coal indexes are: South African Richards Bay Coal - API-4, Australian New Castle Coal - API-3, Japan Power Utility Index and ACR Asian Index.

 

At present, nobody has a clear idea about the price movement. Once the index is launched, it would give crucial information about prices to those who want to trade in future contracts, he said.

 

"We will track the coal prices scientifically and publish it on our website as MJ Coal Index for the benefit of buyers, traders and industry at large," Oberoi said.

 

"At present, there are 440 varieties of coal available in India. With no scientific method to track the price movement it is difficult for the Indian buyers to hedge their risk against coal price volatility," he added.

 

The index would be calculated on the basis of weighted price average of coal computed from the price of different grades of coal tendered at various coal mines across the country.

 

"It would reduce the role of middlemen in the business and help buyers know the right prices of coal," he said.

 

Last updated on Jun 30th, 2009 at 18:20 pm IST--IANS
 
 
 

Domestic Price Fixation (http://www.coalindia.nic.in/pricing.htm)

Government of India deregulated the prices of Non-Coking Coal of grades A,  B & C, Coking coal and Semi/Weakly coking coal on 22.03.1996.  Subsequently, on 12.03.1997, Government of India deregulated the prices of non-coking coal of grade D, Hard Coke and Soft Coke and also allowed Coal India Ltd. to fix coal prices for grades E, F & G till  Jan'2000 once in every six months by updating cost indices as per escalation formula contained in the 1987 report of the Bureau of Industrial Cost & Prices.  With effect from 01.01.2000, CIL was free to fix the prices of such grades of coal in relation to the market prices.

Pursuant of the above, CIL fixed the prices of deregulated coal from time to time and last such revision has been made on 12.12.2007

Grade wise Basic Price of coal at the Pit-head excluding statutory levies for Run-of-mine (ROM) Non-Long-Flame Coal ,Long flame Coal, Coking Coal, Semi Coking Coal& Weakly Coking Coal ,direct feed Coal, Assam Coal  for various subsidiaries of CIL are tabled below :

    Table-I

Basic Price of Run of Mine Non-Long-Flame Non-Coking Coal

(In Rupees/ Tonne)

Field/ Co. A B C D E F G
ECL(for 8 units vide Annex II) 1490 1340 1120 900 680 530 370
ECL/ Mugma(for 16 units vide Annex IV) 1710 1520 1300 1080 860 640 420
ECL/ Rajmahal - - - - 890 760 610
BCCL 1440 1310 1090 900 720 570 410
CCL 1470 1330 1110 910 720 570 410
NCL 1350 1220 1000 840 670 530 390
SECL 1190 1110 950 800 660 520 390
MCL 1160 1030 860 720 560 440 320

Annexure

Table-IA

Basic Price of Run of Mine of Other Coal

(In Rupees/ Tonne)

Field/ Co. A B C D E F G
ECL/ Raniganj(for 104 units vide Annex I) 1910 1800 1580 1360 850 630 420
ECL/ SP Mines(for 2 units vide Annex III) 2060 1840 1620 1400 940 720 500
CCL ( for 7 units vide Annex VI) 1760 1580 1360 1140 900 680 460
CCL( for 16 units  vide Annex VII) 1650 1500 1280 1070 - - -
WCL 1450 1380 1280 1210 990 780 590
SECL Premium Collieries Coal produced in Korea Rewa Coalfields) 1460 1380 1180 1010 790 570 400

Annexure

Table-IB

Basic Price of Run of Mine Long-Flame Non-Coking Coal

(In Rupees/ Tonne)

Field/ Co. A B C D E F G
ECL/ Rajmahal - - - 1160 - - -
BCCL Long Flame Coal 1610 1460 1240 1050      
NCL Long Flame Coal 1520 1380 1160 980 - - -
SECL Long Flame Coal of Korba & Raigarh Coalfields 1320 1240 1070 920 - - -
MCL Long Flame Coal 1300 1170 980 840 - - -

Annexure

Table-II

Coking Coal (Run of Mine)

(Rs. /Tonne)

SUBSIDIARY Steel Grd I Steel Grd II Washary Grd I Washary GrdII Washary GrdIII Washary Grd IV
BCCL(for 53 units  vide Annex VIII) 3260 2730 2380 1720 1290 1190
BCCL - - 1760 1460 1080 1000
ECL - - 2080 1730 1280 1190
CCL - - 1780 1470 1090 1020
WCL - - 1550 1280 1170 -

Annexure

Table-III

Semi Coking & Weakly Coking Coal (Run Of Mine)

Rs./Tonne

SUBSIDIARY

Semi Coking Grd I Semi Coking Grd II
Eastern Coalfields Limited(Raniganj) 1870 1560
South Eastern Coalfields Limited 1580 1320

Annexure

Table IV

Direct feed Coking Coal (Run of Mine)

(Rs../Tonne.)

Grade of Coal  
Direct feed Coking Coal of Collieries Listed in Annexure IX (14 Units)

(Ash exceeding 20% but not exceeding 21%)

(Note:Bonus/penalty @Rs.110/te. per percent decrease/increase in Ash)

3230.00

Annexure

Table V (Revised)

(w.e.f  00.00 hrs of 9th march2008 )

Assam Coal (Run of Mine)

(Rs. /Tonne.)

Unit /Grade of Coal UHV range ((K Cal/Kg.)

 Price

North Eastern Coalfields "A" Exceeding 6200 K cal/ Kg,,But not exceeding 6299 K. Cal./Kg. 2280.00
North Eastern Coalfields "B" Exceeding 5600 K cal/ Kg,,But not exceeding 6200 K. Cal./Kg. 1815.00

Annexure

NOTE:-

1.In Grade "A" for every additional UHV of 100K Cal /Kg. exceeding 6299 K Cal /Kg. ,Additional Rs.82.00 /M Te. shall be added to the price of " A "Grade.

2.For UHV exceeding 7099 k. Cal./ kg. ,the price of coal shall be Rs.3345 per tonne for ROM Coal and the price difference among the steam ,slack and run of mine coal shall remain same.

General Remarks:-

PRICE   NOTIFICATION   NO  CIL : S&M: GM(F) : Pricing  1124   dated  12th Dec.07 

  In super session of this office price notification no. CIL: S&M:GM(F): Pricing: 289 dated 15.06.04,  the pit  head prices of  all grades of  coal produced by Coal Companies of Coal India Limited are being revised with effect from mid night of 12th December,2007 i.e. Zero Hours of  13th December.,2007. The revised pithead prices of all varieties of Run of Mine Coals have been given in tables I to V.

Notes : 1.Additional Rs.15 shall be charged on pithead price of Run of Mine coal for the supply of Slack Coal.

            2. Additional Rs.165  shall be charged on pithead price of Run of Mine Coal for the supply of Steam Coal.

         3.Where the top size is being limited to any   maximum limit within the range of 200 mm – 250 mm through manual facilities or mechanical means, a charge at the rate of Rs.35.00 per tonne will be levied, in addition to the price applicable for Run of Mine coal.                                                                             

         4.Where the top size is being limited to 100 mm through manual facilities or mechanical means, a charge at the rate of Rs.55.00 per tonne will be levied, in addition to the price applicable for Run of Mine coal.

         5.Where the top size is being limited to 50 mm through manual facilities or mechanical means, a charge at the rate of Rs.70.00 per tonne will be levied, in addition to the price applicable for Run of Mine coal.

        6.Where coal is loaded, either into Indian Railways system or into the purchasers' own system of transport, through high capacity loading system with a nominal capacity of 3500 tonnes per hour or more, additional charge of Rs.18.00 per tonne shall be levied for such loading.

        7.While the coal is transported beyond a distance of 3 kms to the loading point, the coal companies shall be entitled to charge additional transport costs from the purchasers at the following rates, namely: 

1.                  For a distance of more than 3 kms but not more than 10 kms Rs.40.00 per tonne.

2.                  For a distance of more than 10 kms but not more than 20 kms Rs.70.00 per tonne.

 In cases, where coal is transported for more than 20 kms to the loading points, transport charges will be payable on actual basis, to be borne by the purchaser.

        8.The pit head prices fixed are exclusive of Royalty, Cess, Taxes and Levies, if any, levied by the                 Govt., Local Authorities   or any other bodies of Excise and Sales Tax from time to time.

         9.Grading/ classification of coal and the definitions relating to the same have been  given in   Annexure –X.

        10.The prices given in  this notification are either FOR or FOB, as the case may be . Surface transportation  charges, where   applicable, would be  levied extra .

        11.The prices  do not apply to coal sold  for export .

        12For undertaking  special  sizing  or beneficiation of coal,  additional charges as

         may be  negotiated  between  the purchaser and the producer may be realised  over and above  the pithead prices .

         13 A rebate  of 5% for supply of wahsery grade  coking coal will be given to power houses other than captive  ones .


 
 mines.jharkhand.org.uk
 
   


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Hot issues of Today
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