Inventories at power plants dropped to the lowest since December 2014 as of 28 August, with several plants running at less than seven days of stockpiles, a critical benchmark. Photo: BloombergNew Delhi: 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% from a year ago to 37.63 million tons, according to Bloomberg calculations based on a stock exchange filing by the company on Friday. Coal India, which had trimmed output over the past few months to reduce its own stockpiles, is now seeking to replenish the falling inventories at power plants. Its own stocks have fallen below a targeted 40 million tons, a company official told Bloomberg News earlier this week.

Source: Mint September 02, 2017 10:18 UTC