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The National Coal Index (Provisional) fell 4.75% in December 2023 to 155.44 points from 163.19 points in December 2022. This considerable decline shows sufficient availability of coal in the market to fulfil the expanding demands. A price index known as the National Coal Index (NCI) aggregates coal prices from all available sales channels, including import, auction, and notification prices. It considers the coking and non-coking coal pricing of various grades transacted in the regulated (power and fertilizer) and non-regulated sectors. Established with the base year FY 2017-18, NCI is a reliable indicator of market dynamics, providing valuable insights into price fluctuations.
The peak of NCI was observed in June 2022 when the index reached 238.83 points, but subsequent months have experienced a decline, indicative of the abundant availability of coal in the Indian market. Additionally, the premium on coal auctions indicates the pulse of the industry, and the sharp decline in coal auction premiums confirms the sufficient coal availability in the market. The impressive growth of 10.74 % in the country's coal production during Dec 23 compared to the corresponding period of last year ensures a stable supply for various sectors reliant on coal, significantly contributing to the overall energy security of the nation.
The downward trajectory of the NCI signifies a more equitable market, harmonizing supply and demand dynamics. With sufficient coal availability, the nation can address burgeoning demands and underpin its long-term energy requisites, thereby fortifying a more resilient and sustainable coal industry and fostering a prosperous future for the nation.
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