Coal prices in India have jumped in local auctions after buyers race to procure local fuel amid the market panic that started with the Russian invasion of Ukraine. Some buyers in India have paid 340 percent above baseline prices in local auctions so far in March, Bloomberg reported on Monday, citing sources familiar with the developments. The seller was Coal India Ltd, the largest coal producer in the country and the world. The company usually sells around 15 percent to 20 percent of the coal it mines via an online auction system, under which customers…
