South Eastern Coalfield Ltd (SECL), the largest coal producing subsidiary of CIL, has managed to sale the entire quantity offered in the spot e-auction concluded during Nov’19.
The company had floated 781,000 MT coal in the auction held on 20 Nov’19, wherein G5, G6, G7, G8, G9, G13,G14 and G16 grades of coal were offered in 20 lots across its various mining sources.
SECL had witnessed an average bid price of INR 2751.62/MT for coal sales, which was 40% higher than the average reserve price of INR 1962.76/MT accessed in the auction.
| Source | Grade | Reserve Price | Average Bid Price | % Increase over Reserve Price | Quantity |
| Vijay West UG | G5 ROM | 3285 | 4080.62 | 24% | 53,000 |
| Rajgamar 4&5 UG | G5 ROM | 3285 | 4002.2 | 22% | 20,000 |
| Gayatri UG | G5 ROM | 3285 | 4126.13 | 26% | 20,000 |
| Bagdeva UG | G5 STM | 3609 | 4233 | 17% | 2,000 |
| Rehar UG | G6 ROM | 3029 | 3665.57 | 21% | 7,000 |
| Kumda 7&8 UG | G6 ROM | 3029 | 4071.08 | 34% | 20,000 |
| Kurja UG | G6 ROM | 3029 | 3080.7 | 2% | 10,000 |
| Sharda OCM | G6 ROM | 3029 | 3538.53 | 17% | 50,000 |
| Mahan II OCM | G7 ROM | 2774 | 3655.66 | 32% | 50,000 |
| Amadand UC | G7 ROM | 2774 | 2789.60 | 1% | 53,000 |
| Singhali UG | G7 ROM | 2774 | 4256.63 | 53% | 16,000 |
| Khairaha UG | G7 ROM | 2774 | 2811.85 | 1% | 40,000 |
| Singhali UG | G7 SLK | 2810 | 3550 | 26% | 2,000 |
| Pinoura | G8 ROM | 2109 | 2826.83 | 34% | 15,000 |
| Bangwar UG | G9 ROM | 1642 | 2141.88 | 30% | 70,000 |
| Damini UG | G9 ROM | 1642 | 2257.65 | 37% | 33,000 |
| Balrampur UG | G13 ROM | 1176 | 1675.45 | 42% | 40,000 |
| Manikpur OC | G13 ROM | 1176 | 2654.2 | 126% | 100,000 |
| Gare Palema IV/2&3 | G14 ROM | 1077 | 2349.5 | 118% | 40,000 |
| Gare Palema IV/2&3 | G16 ROM | 725 | 1680.90 | 132% | 140,000 |
| Total | 781,000 | ||||
Source: CoalMint Research
Quantity in MT
Prices in INR/MT
Aggressive bidding was seen for lower grades of coal, wherein G13, G14 and G16 all had noted hefty premium over the notified reserve price. However, a variation in bid price was seen for coal grades offered from difference sources.
Apparently, bids in excess of INR 1460-1510/MT was noted for G13 grade of coal offered from Manikpur OC mine, while same grade of coal offered from Balrampur UG mine had only managed bids in excess of INR 490-510/MT over the reserve price.
Highest bid was noted for G7 grade of coal offered from Singhali UG mine, marked at INR 4284/MT. Bid price for coal offered from Khairaha Amadand and Kurja mines were marked close to the reserve price.
Overall, SECL had recorded a better sales in the auction, where nearly 87% of the total volume were sold at a bid price above INR 470/MT over the corresponding reserve price.
Major Coal Receivers:
Highest quantity in the auction was acquired by the Traders, which had booked nearly 44% of the total coal volume. Power sector was the second-highest coal receiver, followed by Sponge Iron manufacturers.
In terms of individual buyers, Phil Coal Benefication came out on top with 108,000 MT coal. The company had procured G9, G14 and G16 grades of coal in the auction.
DB Power with 88,350 MT coal was second-largest coal buyer followed by MB Power which had taken 52,550 MT coal.
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