Bharat Coking Coal Ltd. (BCCL), the prime producer of coking coal in India, has concluded the spot e-auction for coal sales envisaged in the month of Dec’19. The company had conducted separate auctions through two web portals Mjunction and MSTC, which were held on 17th and 18th Dec’19.
BCCL had managed to sale 64% of the total coal offered, while garnering a premium of 12% over the reserve price accessed in the auctions. Notably, the company had fetched an average bid of INR 4,840.02/MT for the coal sales, as against the reserve price of INR 4,317.08/MT.
A broad classification of the coal offered in the auction indicates that the sales of coal products put forward from 24 distinct sources had received better response comparable to the sales for slurry products.
| Grade | Source | Size | Reserve Price | Avg.Bid Price | Gain on Reserve Price | Quantity | |
| Offered | Sold | ||||||
| W-II | Jogidih | STM | 6,233 | 0 | N/A | 500 | 0 |
| W-III | AKWM OCP (Kumarijore Patch) | STM | 5,015 | 6,796 | 35.52% | 4,000 | 4,000 |
| W-III | Godhur | STM | 5,015 | 6,588 | 31.36% | 2,000 | 2,000 |
| W-III | Nichitpur SSY | STM | 5,015 | 6,445 | 28.51% | 1,000 | 1,000 |
| W-III | S. Bansjora | STM | 5,015 | 6,241 | 24.44% | 4,000 | 4,000 |
| W-III | A NT-ST Jeenagora | STM | 5,015 | 5,941 | 18.46% | 5,000 | 5,000 |
| W-III | South Jharia | STM | 5,015 | 5,764 | 14.94% | 4,000 | 4,000 |
| W-III | Kuya OCP Outsourced | STM | 5,015 | 5,642 | 12.50% | 8,000 | 8,000 |
| W-III | AKWM OCP (Kantapahari Patch) | STM | 5,015 | 5,441 | 8.49% | 4,000 | 4,000 |
| W-III | Amalgamated Block-II (Benedih) | STM | 5,015 | 5,352 | 6.72% | 2,000 | 2,000 |
| W-III | Amalgamated Block-II (Nudkhurkee) | STM | 5,015 | 5,312 | 5.92% | 2,000 | 2,000 |
| W-III | Bastacolla | STM | 5,015 | 5,276 | 5.20% | 2,000 | 2,000 |
| W-III | Block-IV (Hired) | STM | 5,015 | 5,172 | 3.14% | 4,000 | 4,000 |
| W-III | Phularitand | STM | 5,015 | 5,132 | 2.32% | 4,000 | 4,000 |
| W-III | Amalgamated Block-II (Jamunia) | STM | 5,015 | 5,124 | 2.16% | 2,000 | 2,000 |
| W-III | Muraidih (Satabdi) | STM | 5,015 | 5,123 | 2.15% | 2,000 | 2,000 |
| W-III | New Akashkinaree (Hired) | STM | 5,015 | 5,115 | 1.99% | 4,000 | 4,000 |
| W-III | Block-IV | STM | 5,015 | 5,039 | 0.47% | 4,000 | 4,000 |
| W-III | Muraidih | STM | 5,015 | 5,039 | 0.47% | 2,000 | 2,000 |
| W-III | New Akashkinaree | STM | 5,015 | 5,016 | 0.02% | 1,500 | 1,000 |
| W-III | Maheshpur | STM | 5,015 | 5,015 | 0.00% | 1,000 | 300 |
| W-III | New Akashkinaree (II Seam) | STM | 5,015 | 5,015 | 0.00% | 1,000 | 400 |
| W-IV | Tetulmari | STM | 4,784 | 4,788 | 0.08% | 3,000 | 3,000 |
| G7 | Dahibari OCP | STM | 3,485 | 4,807 | 37.93% | 2,000 | 2,000 |
| W-III | Patherdih | SLURRY | 3,010 | 3,010 | 0.00% | 50,000 | 6,950 |
| W-IV | Dugda | SLURRY | 2,767 | 3,596 | 29.94% | 15,000 | 15,000 |
| W-IV | Madhuban | SLURRY | 2,767 | 2,767 | 0.00% | 15,000 | 6,750 |
| TOTAL | 4,317 | 4,840 | 12.11% | 149,000 | 95,400 | ||
Incidentally, of the total 69,000 MT coal product offered in the auction pertaining to grades W-II, W-III, W-IV and G7, BCCL had witness sales of 66,700 MT.
No bids were seen for the sale of highest grade of coking coal offered in the auction, wherein 500 MT coal consisting of W-II grade was put forward from Jogidih mine.
The company had floated majority of the coal pertaining to coking grade W-III at a reserve price of INR 5015/MT. However, the coal grade had received luke-warm response from the buyers, with comparatively better premium received at AKWM, Godhur, Nichitpur and S Bansjora amongst the lot.
W-IV grade coking coal offered from Tetulmari had seen the entire volume sold at a reserve of INR 4788/MT as against the reserve price of INR 4784/MT. While, the sole lot of non-coking coal of G7 grade was sold at a premium of 38% over the reserve price of INR 3485/MT.
Contrarily, BCCL’s sale of slurry product has only seen 36% volume sold out of the total 80,000 MT offered in the auction, whose reserve price were in fact, set a comparatively lower than those of the coal products.
Apart from the entire quantity of 15,000 MT sold from Dugda mine at a premium of 30%, remaining sales from Patherdih and Madhuban mines was subdued in the auction.
During the first 8 months of FY20 (Apr-Nov’19), BCCL’s coal dispatch has fallen 18% Y-o-Y to 18.14 MnT as against 22.06 MnT in the year-ago period.
Leave a Reply