GG News Bureau
New Delhi, 8th Nov. The National Coal Index (NCI) increased by 3.83 points to reach 143.91 in September 2023. This is the first increase since April 2023 and was influenced by a temporary rise in coal prices in global markets.
The NCI was introduced by the Ministry of Coal on June 4, 2020. It is a price index that reflects the change in coal prices compared to a fixed base year.
The NCI is used to determine the premium or revenue share based on market prices. It covers all transactions of raw coal in the Indian market, including different grades of coking and non-coking coal in regulated and non-regulated sectors. This includes transactions at notified prices, coal auctions, and coal imports.
The increase in the NCI indicates a rising demand for coal due to the upcoming festive season and winter in the country. This encourages coal producers to increase domestic coal production to meet the growing energy demands.
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