India: Domestic coal prices drop further by INR 200-350/t w-o-w

Domestic thermal coal prices in India continued to decline, with 4500 GCV coal trading at INR 4,600/t (down INR 200/t) and 5000 GCV at INR 5,350/t (down INR 350/t), both exw-Bilaspur. The latest SECL auction saw lower bids too. Traders hinted at distressed sales, which pushed prices down further, as buyers remained cautious amid ample supply and uncertain market conditions.