IOCL has announced another round of e-auction of Petcoke within a week, from their Paradip refinery scheduled, on 6 Dec’18, having following salient features:
The offered Quantity in this auction is 90,000MT
The delivery period is from 7 Dec’18 to 6 Jan’19.
The minimum bid quantity is 10,000MT by any customer.
Reserve Price of the auction would be declared in live auction.
Prospective bidders are required to submit EMD to MSTC by due date 5 Dec’18. The auction is being conducted by MSTC on behalf of IOCL.
As per sources reported to Coalmint, the last auction was conducted on 30 Nov’18 for 90,000MT, but no bid was received. Probably this was for the first time when no bid was received in Petcoke auction from Paradip.
Therefore, IOCL had to go for this mid term auction, which has been scheduled, on 6 Dec’18. It may be noted that in Nov’18 also IOCL had gone for mid term auction on 14 Nov’18, as 50,000MT quantity was remained unsold out of the auction conducted earlier.
It is understood from the potential bidders that the reserve price in the last auction was higher than the expected price. This is mainly due to the reasons that Petcoke prices had dropped further in the international market.
The reserve price in the last auction was Rs 5,670/MT as compared to the reserve price of Rs 5870/MT in previous auction. It is expected that the reserve price for this scheduled auction may be lower than that of last auction, to attract major customers.
Major Cement industries from Odisha and Chattisgarh, Jharkhand are expected to participate in the auction.
For Contact Details and Other Information view TENDER SECTION
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