India: Domestic coal demand weak, but 5000 GCV prices rise on sponge push

Domestic 5000 GCV coal prices rose by INR 150/t w-o-w to INR 4,850/t exw-Bilaspur, while 4500 GCV remained stable at INR 4,250/t. The price hike in 5000 GCV was supported by improved buying in the sponge iron market, where P-DRI prices rose significantly by around INR 1,700-1,800/t w-o-w. However, overall domestic coal demand stayed weak, as SECL’s shift to direct end-user sales reduced trader activity, limiting spot deals despite a pick-up in select industrial segments.