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The National Coal Index (NCI) witnessed a substantial decline of 4.75% in December 2023, reaching 155.44 points compared to 163.19 points in December 2022. This decline signals a surplus of coal in the market, meeting the growing demands effectively.
National Coal Index amalgamates coal prices from various sales channels including Notified Prices, Auction Prices, and Import Prices, covering both coking and non-coking coal grades in regulated and non-regulated sectors. Established with the base year as FY 2017-18, NCI provides insights into price fluctuations, serving as a crucial indicator of market dynamics.
Although the peak of the National Coal Index was noted in June 2022 at 238.83 points, subsequent months have seen a decline, indicative of abundant coal availability in the Indian market. Moreover, the decrease in coal auction premiums further confirms the sufficient availability of coal.
The commendable growth of 10.74% in the country’s coal production during December 2023, compared to the same period last year, ensures a stable supply for various sectors reliant on coal, enhancing the overall energy security of the nation.
The downward trajectory of the National Coal Index signifies a balanced market, aligning supply and demand dynamics effectively. With ample coal availability, the nation can cater to burgeoning demands while fortifying long-term energy requirements, thereby bolstering a more resilient and sustainable coal industry and fostering a prosperous future for the nation.
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