India: DPL Coke Auction received Poor Response

Durgapur Projects Limited (DPL) has received the dull reaction from market and got only one bid for LAM Hard Coke of 25-70/80 mm size.

DPL has received bid around 25% lower than last sale of 25-70/80 mm LAM Hard Coke and received bid of INR 12,100/MT for one rake of 2,400 MT. The company had earlier sold the same grade at around INR 16,200/MT and in recent auction which ended on 8 May, 2014 had drawn poor response from market.

A senior official of DPL said, “We understand the market is quite under pressure but such responses are surprising for us”.

“We have received bid 25% lesser from our last sale of LAM Hard Coke”, he further added.

DPL had invited bids on 29 Apr, 2014 for auction of 19,200 MT in 7 lots (2,400 MT each) of Low Ash Metallurgical Hard Coke (LAM Hard Coke) of 25-70/80 mm size and 2 lots of LAM Under Size Mixed Coke (0-25 mm size) with closing date on 8 May, 2014.

Other private manufactures are selling the Low Ash blast furnace grade Coke (40-60 mm) at INR 15,000-15,500/MT Ex-plant.

Durgapur (West Bengal) based DPL is one of the leading Indian merchant Coke producers with around 0.5 MnT of production capacity.