Wednesday, July 24, 2024
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The recent uptick in the National Coal Index (NCI) suggests an increasing demand for coal owing to the approaching festive and winter seasons, as highlighted by the Ministry of Coal. According to an official statement, the NCI rose by 3.83 points to 143.91 points in September 2023, following a temporary surge in global coal prices.

This upswing marks the first increase since April 2023, prompting the ministry to underscore the index’s significance in determining premiums or revenue shares based on a market-driven mechanism. Launched on June 4, 2020, the NCI serves as a price index reflecting coal price fluctuations relative to a fixed base year, encompassing all raw coal transactions in the Indian market. These transactions involve various grades of coking and non-coking coal in both regulated (power and fertilizer) and non-regulated sectors, including those at notified prices, coal auctions, and coal imports.

The NCI’s recent ascent is indicative of the growing demand for coal in anticipation of the forthcoming festive and winter seasons. This development is expected to encourage coal producers to expand domestic coal production to cater to the escalating energy requirements.

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