India: ECL and MCL float over 4 mnt coal auctions in May’26

• Rajmahal OC leads auction volumes
• MCL auction volumes dominate market supply

Eastern Coalfields Limited (ECL) and Mahanadi Coalfields Limited (MCL) have announced large-scale e-auctions of non-coking coal in May 2026, together placing more than 4 million tonnes (mnt) of coal across multiple grades and evacuation modes under the revised CIL e-auction framework.

ECL offers diversified coal basket

ECL will conduct its auction on 16 May, offering over 895,350 tonnes through both road and rail modes. The basket spans premium G3 grades to G13 and W03/W04 coal, catering to a wide spectrum of industrial consumers.

Rajmahal OC remains the key contributor with 497,200 t of G13 ROM coal and 82,600 t of G11 steam coal, while HURA C OC is offering a combined 188,700 t of G11 and G12 coal. Premium-grade availability remains relatively limited, with select quantities of G3 coal from S P Mines A and G4 coal from Bankola clusters also included in the auction mix.

MCL focuses on large lower-grade volumes

Meanwhile, MCL is bringing a significantly larger basket of 3.24 mnt in its second non-coking coal auction on 20 May’26. The offering is dominated by lower-grade fuel, with LBL Integrated OCP leading at 846,000 t of G14 coal, followed by Hingula OCP at 767,000 t and Basundhara West OCP at 500,000 t. MCL is also offering 150,000 t of washery rejects from IB Valley Coal Washery.

Market participation shows signs of recovery

The upcoming auctions come amid improving participation trends in the spot coal market, with Mahanadi Coalfields Limited’s 9 May road-mode auction recording allocations of 927,000 t against an offer of 4.36 mnt, more than double the allocation seen in the 30 April auction.

G12 emerged as the most allocated grade on 9th May auction, with 362,000 t booked at an average winning price of INR 1,394/t against the notified price of INR 1,101/t. G11 and G13 also witnessed healthy buying interest, while G14 allocations improved despite cautious sentiment for lower-grade fuel.

Meanwhile, G8 coal continued to command the strongest premiums, with around 50,000 t allocated at an average winning price of INR 4,284/t against the notified price of INR 1,931/t, reflecting robust demand for higher-grade coal despite softer downstream market sentiment. In the earlier 30 April auction, G13 coal achieved an average winning price of INR 1,307/t compared with the notified price of INR 1,016/t.