In the recently concluded SECL spot e-auction for Korba
field, 504,950 tons of non-coking coal was auctioned. 200,000 tons of Gevra OC (Stock) material that was auctioned fetched a price of Rs 1,850/MT (inclusive
of tax). Material from these mines in the last auction was available at
around Rs 2,500/MT.
75,000 tons & 25,000 tons material from Chhal OC and Laxman OC (Stock) respectively, was also auctioned and will now be available at Rs 1,450/MT and
2,000/MT (inclusive of tax).Coal from these mines were bid lower by Rs 500 and
Rs 750/MT respectively.
A trader based in Bilaspur (Chhattisgarh) region said that the commodity is
under quite a lot of pressure and fewer players participated in the recent
auction. Power producer are also looking for cheaper material considering the
economics of their business.
Another trader was of view that competitively priced imported material from
Indonesia and South Africa is giving strong competition to the domestic
produce.
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