Coal India Ltd., the world’s biggest producer of the fuel, reported the first increase in monthly production on a year-on-year basis in five months after power plant inventories plunged and the miner’s own stockpiles declined.
Output in August rose 16 per cent from a year ago to 37.63 million tons, according to Bloomberg calculations based on a stock exchange filing by the company on Friday. Shipments rose 19 per cent to 43.75 million tons, advancing for 10 straight months.
Inventories at power plants, the biggest users of coal in the country, dropped to the lowest since December 2014 as of August 28, with several plants running at less than seven days of stockpiles, a critical benchmark. Read More…
Credit By: ET
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