Indicating sufficient coal availability in the market, the National Coal Index (NCI) dropped 17.54 per cent to 155.09 points in November 2023.
The NCI was at 188.08 points in November 2022, the coal ministry said in a statement on Wednesday.
This shows a strong supply of coal in the market, with sufficient availability to meet the growing demand.
NCI is a price index that combines coal prices from all sales channels, including notified prices, auction prices and import prices.
Established with the base year as fiscal 2017-18, it serves as a reliable indicator of market dynamics, providing insights into price fluctuations.
“Similarly, the NCI for non-coking coal stands at 143.52 points in November 2023, reflecting a decline of 25.07 per cent, compared to November 2022, while Coking Coal stands at 188.39 points in November 2023, with a growth of 5.79 per cent compared to the corresponding period of last year,” the statement said.
The peak of NCI was observed in June 2022 when the index reached 238.83 points, but subsequent months have experienced a decline, indicative of abundant coal in the Indian market.