India: Crude coal tar auctions strengthen in November on higher supply, firming prices

• Higher November bids reflected improved sentiment and firm demand
• SAIL subsidiaries drove price gains; overall momentum stays positive

India’s crude coal tar market recorded a notable uptick in auction activity in November 2025, with offered volumes increasing to 47,086 tonnes (t), up from 38,661 t in October. The rise was primarily driven by higher offerings from SAIL subsidiaries and an overall increase in the number of auctions conducted. The increased availability of material also encouraged stronger buying participation, reflected in higher bid levels compared to the previous month.

BigMint assessed crude coal tar at INR 32,115/t (ex-works, Eastern India) for November 2025, marginally higher than INR 31,755/t in October, signalling improving market sentiment. Participants indicated that coal tar prices strengthened, pointing to firm demand and healthier fundamentals.

SAIL auction trends

• Rourkela Steel Plant: On 27 Nov’25, SAIL-Rourkela successfully auctioned 10,000 t of material at a weighted average price of INR 32,115/t, marking a rise of INR 360/t from the previous auction.
• Durgapur Steel Plant: SAIL-Durgapur observed a clear upward price trajectory through the month. The plant auctioned 4,000 t on 1 Nov’25 at INR 32,825/t, followed by 3,000 t on 7 Nov’25 at INR 33,100/t. The momentum continued, with another 3,000 t sold on 27 Nov’25 at a significantly higher INR 34,700/t, marking the strongest price realisation of the month.
• Bhilai Steel Plant: SAIL-Bhilai conducted three auctions, each reflecting price stability to mild gains over October levels. BSP sold 2,506 t on 8 Nov’25 at INR 32,000/t, followed by 2,004 t on 19 Nov’25 at INR 31,500/t, and another 2,004 t on 29 Nov’25 at INR 32,346/t. The prices remained on the higher side compared to last month, supported by steady buying interest.

Other Suppliers Show Activity

• NMDC Steel (Nagarnar): NMDC sold 300 t of crude coal tar on 26 Nov’25 at INR 31,800/t, up by INR 100/t from its previous auction, indicating marginal improvement in demand.
• Vizag Steel Plant: According to an official, RINL-Vizag utilised all its produced crude coal tar for internal consumption and plans to conduct auctions in the upcoming month.

Outlook

Market sentiment for crude coal tar is expected to remain firm in December, supported by consistent demand from carbon black, pitch, and electrode manufacturers. With SAIL maintaining steady supply, auction realisations may continue to inch upward. However, any slowdown in logistical disruptions could moderate the pace of buying. Overall, the market is likely to stay on a mildly bullish trajectory in the near term.