India: Bid premium at MCL’s coal auction remains range bound in Sept

Mahanadi Coalfields Ltd (MCL), the biggest subsidiary of Coal India, conducted an auction for 2.33 mnt of coal on 26 Sept’22. The entire quantity was booked at the price realisation of INR 4,390/t. The bid premium remained range bound m-o-m at 339% over the notified price as compared to 331% fetched in August’s auction.