Odisha Coal and Power Ltd (OCPL), a state-run entity, plans to sell 3 million tons of surplus coal from its eastern India mine at a 15% discount through online auctions on Oct. 4, according to an auction notice in the Times of India. The discounted sale reflects decreased demand for coal in the country, despite a 7.12% increase in India's domestic coal production, reaching 370 million metric tons between April 1 and Aug. 25.
According to Riya Vyas, a senior analyst at iEnergy Natural Resources Ltd., the auction signals high supply and limited demand, as electricity production from coal-fired plants remains low post-monsoon.
