National Coal Index rose by 3.83 points in Sept
New Delhi: The National Coal Index (NCI) rose marginally by 3.83 points to 143.91 in September 2023 after April 2023 due to the temporary rise of coal prices in global markets, the Ministry of Coal said on Tuesday.
The National Coal Index (NCI) was rolled out on June 4, 2020 by the Ministry of Coal and it is a price index that reflects the change in the price of coal on a particular month relative to the fixed base year.
The NCI is used to determine the Premium (on a per tonne basis) or Revenue Share (on a percentage basis) based on a market-based mechanism.
The Index is meant to encompass all transactions of raw coal in the Indian market.
This includes coking and non-coking of various grades transacted in the regulated (power and fertilizer) and non-regulated sectors.
The transactions include those at notified prices, coal auctions and coal imports.
The NCI's upward movement indicates rising demand for coal because of the upcoming festive season and winter in the country, which will encourage coal producers to take maximum benefit by further scaling up domestic coal production to meet the growing energy demands.
IBNS
Senior Staff Reporter at Northeast Herald, covering news from Tripura and Northeast India.
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