- G3 premium crosses 180%, G4 records premium of over 140%
- G9 bids close to notified price, premium dips from previous auction
Eastern Coalfields Ltd. (ECL) allocated 174,050 t in its e-auction held on 27 August 2026, with bidding strongly concentrated in selected G4 mines. G9 accounted for the largest allocation at 100,000 t, followed by G4 at 63,800 t. G4 recorded an average winning price of around INR 8,574/t, representing a premium of about 141% over the notified price of INR 3,557/t. The auction again showed a clear preference for mine-specific higher-grade coal, while G9 attracted only a marginal premium.
G4 remains the strongest segment
G4 accounted for 63,800 t, with premiums varying significantly across mines. Bahula UG recorded the highest G4 premium at 165.1%, with the winning price at INR 9,431/t. Belbaid UG followed at 174.5%, while JK Nagar UG recorded the highest absolute price at INR 10,672/t, equivalent to a 200% premium.
Other G4 mines also attracted substantial premiums. Jhanjra UG reached 172.8%, Kumardihi B UG 158.5%, Kalidaspur UG 178.9%, Lower Kenda UG 162.7%, Khottadih OC 157.8% and Chora Block Inc 147.4%.
The broad-based strength across G4 sources indicated that buyers continued to place a significant premium on selected mine-specific coal quality.
G3 attracts highest grade premium
G3 allocation stood at 3,000 t from KhasKajora UG. The winning price reached INR 10,526/t against a notified price of INR 3,719/t, resulting in a premium of around 183%, the highest grade-level premium in the auction.
The strong bidding for KhasKajora reinforced the preference for limited-availability higher-grade coal, although the relatively small allocation meant its impact on total auction volumes remained limited.
G5 accounted for 1,250 t, with Siduli UG recording a 149.2% premium at INR 8,162/t. Barmuri OC attracted a much lower 27.6% premium at INR 4,179/t, showing considerable variation even within the same grade.
G9 volumes large but premium remains low
G9 was the largest allocated grade at 100,000 t, entirely from G/Begunia OC. The winning price of INR 1,809/t represented a premium of only 1.9% over the notified price of INR 1,776/t.
This contrasted sharply with the premiums achieved by G3 and G4 mines. The result suggested that while buyers were willing to secure large volumes of G9, bidding intensity remained limited because of greater availability and lower grade quality.
W04 allocations totalled 6,000 t, with premiums ranging from 33.1% at Hariajam UG to 108.7% at Khoodia UG. Shyampur B UG also attracted a strong 100.1% premium.
Comparison with 14 August auction
Compared with the 14 August auction, the latest results showed a mixed movement in the same mine-grade combination available in both auctions. G/Begunia OC G9, which had attracted a winning price of INR 1,860/t and a premium of around 4.7% on 14 August, fell to INR 1,809/t and a 1.9% premium on 27 August. The lower premium indicated softer bidding despite the allocation increasing from 50,000 t to 100,000 t.
Overall, the latest auction continued to show strong mine-specific competition for G3 and G4 coal, while the largest-volume G9 parcel attracted limited premium.
Buyer participation remains concentrated
Compact Weighing Pvt. Ltd. emerged as the largest buyer, securing 81,000 t, including 75,000 t of G9 and 6,000 t of G4. Shakambhari Ispat & Power Ltd. followed with 16,150 t, entirely in G4.
SSRA Enterprise Pvt. Ltd. purchased 5,250 t, while Spintech Tubes Pvt. Ltd. secured 4,000 t of G4. The buyer mix remained focused on industrial consumers and traders seeking specific grades, particularly G4 and G9.
Overall, the auction reinforced the divergence between abundant lower-grade coal and preferred mine-specific material, with buyers continuing to pay substantial premiums for selected G3 and G4 sources.
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