Coal India’s subsidiary Mahanadi Coalfields Limited (MCL) conducted an auction for 2.2 mnt of coal on 30 June. Almost the entire quantity was booked at a price realisation of INR 5,536/t, fetching a premium of 450% over the notified price compared to 749% in May. The fall in bid premium is attributed to the seasonal slump in demand and improvement in supply as consecutive auctions were held in the last two months.
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