CIL Coal Linkage Auction day 2 receive bid for 28% offered quantity

Coal India Limited (CIL), has today begun 2nd day of its coal linkages auction for Qty 1 million tones to the non-regulated sector. The auction continues to receive poor participation as 72% remains unsold.

According to inputs received from participants in the auction, today three auctions were scheduled (Details below in table). Only 28% in total quantity offered 10,45,000 MT were receive bidder and remaining 0.75 million tones remains unsold. Major participation seen in WCL, G10 grade where 71% material sold in quantity offered 1,40,000 MT at notified price of INR 1,510/MT.

SECL 22% quantity sold out in 5,30,000 MT which is among the highest quantity slab in total 3.78 million tone quantity offered in 1st phase of coal linkage. Its notified price were INR 970/MT. Similarly ECL receive 19% bid in qty offered 3,75,000 MT at notified price of INR 3,180/MT

Buyer were looked laid back and non aggressive but were keen in observing the procedure and methodology adopted.

It should be noted the auction also received a very poor response on the first day. As in total quantity only MCL were sold out at 55% and remaining both slot remain unsold. Total quantity offered were 7,50,000MT and sold 3,00,000 MT yesterday.

In the first tranche of the auction, to be conducted during 10 Jun’16 to 16 Jun’16, only sponge iron producers will be able to participate. These consumers will be able to bid for 3.78 MnT of coal linkages in the auction.