India: Domestic coal prices remain stable w-o-w as sellers resist cuts, demand remains weak

Domestic coal prices were unchanged w-o-w, with 4500 GCV and 5000 GCV at INR 4,500/t and INR 4,950/t, respectively, exw-Bilaspur. Demand remained weak, with no fresh inquiries seen. In the recent SECL auctions, bids once again hovered at around the base prices. Additionally, sellers held their offers firm, resisting further price cuts. Falling sponge iron prices also pressured the market, limiting demand for coal.