- G12 premiums exceed 70% at major sources
- G11 bidding strengthens sharply at Siarmal
Mahanadi Coalfields Ltd. (MCL) allocated 815,600 t in its e-auction held on 29 August 2026. G14 accounted for the largest allocation at 384,250 t, followed by G12 at 258,000 t, G11 at 100,000 t and G13 at 72,150 t. Bidding remained strongest for selected G12 and G11 sources, while several large G14 parcels continued to clear at notified prices or modest premiums.
G12 remains the strongest grade
G12 recorded 258,000 t of allocations, with an average winning price of around INR 2,049/t against a notified price of INR 1,101/t, representing an overall premium of approximately 86.1%.
Jagannath mine recorded the highest premium at around 113.9%, with a winning price of INR 2,355/t. Kaniha followed at 101.8%, while Ananta and Bhubaneswari silo recorded premiums of 83.4% and 83.7%, respectively. Bhubaneswari realised a premium of 74.9%, while Spur 5 Rail Siding recorded 74.6%.
G11 strengthens, while G13 remains selective
G11 accounted for 100,000 t, entirely from Siarmal. The winning price averaged INR 1,928/t against a notified price of INR 1,184/t, translating into a substantial 62.8% premium.
This represented a clear strengthening from the previous auction, when Siarmal G11 recorded a 28.5% premium. The increase indicated stronger competition for the source despite the larger allocation.
G13 totalled 72,150 t, with an average winning price of around INR 1,079/t against INR 1,016/t notified, equivalent to a premium of approximately 6.2%. However, bidding varied considerably by source. Sardega RLS attracted a strong 78.1% premium, while Kanika Rail Siding and Spur 10 Rail Siding recorded 16.8% and 16.1%, respectively. Lajkura, LOCM 3 and Orient 2 cleared at notified prices.
G14 allocation remains large but uneven
G14 remained the largest grade, with 384,250 t allocated. The grade’s weighted average winning price was around INR 1,033/t, against a notified price of INR 930/t, resulting in a premium of approximately 11.0%.
The overall figure, however, masked significant differences between sources. Garjanbahal recorded a strong 46.2% premium, substantially above its 5.1% premium in the 20 August auction. BOCM-7 Rail Siding also recorded 5.1%, while Integrated LBL mine remained unchanged at 5.1%.
Hingula, which accounted for 69,150 t, cleared at its notified price, while Lajkura and Samleswari also cleared at notified prices. This showed that large-volume G14 availability continued to limit broad-based bidding pressure.
Comparison with 20 August auction
Compared with the 20 August auction, the 29 August results showed mixed movements across the same mine-grade combinations. Ananta G12 strengthened to INR 2,019/t from INR 1,886/t, lifting the premium from 71.3% to 83.4%. Kaniha G12 saw a sharper increase, with the winning price rising to INR 2,222/t from INR 1,875/t and the premium moving from 70.3% to 101.8%. Siarmal G11 also strengthened, with its premium rising from 28.5% to 62.8% as the winning price increased to INR 1,927.5/t from INR 1,522/t. Garjanbahal G14 rose from INR 977/t to INR 1,359.5/t, taking the premium from 5.1% to 46.2%. In contrast, Bhubaneswari G12 eased to a 74.9% premium from 83.0%, while Bhubaneswari Silo G12 declined marginally to 83.8% from 85.5%. Hingula G14 and Integrated LBL G14 remained unchanged at 0% and 5.1%, respectively. Nandira G8 also showed only a marginal increase, with the winning price rising to INR 1,946/t from INR 1,931/t.
Auction highlights
The latest auction showed that MCL demand remained highly source-specific. G12 continued to command the strongest premiums, particularly at Kaniha and Jagannath, while Siarmal G11 saw a notable improvement. G14 remained more readily available, although Garjanbahal attracted significantly stronger competition than in the previous auction.
Among buyers, Feegrade and Company Pvt. Ltd. was the largest participant, securing 163,450 t across G14, G12 and G11. Vedanta Aluminium Metal Ltd. followed with 124,950 t, while GMR Kamalanga Energy Ltd. purchased 55,000 t. Tata Steel and Rungta Mines also remained active, mainly in G12.
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