Durgapur Projects Limited (DPL), which had floated Auction for sale of 2,000 MT LAM undersize Mix Coke (0-25 mm) and 7,200 MT LAM Hard Coke (25-70/80 mm), has received higher bids than its previous tender.
West Bengal based DPL has received bids around 10% higher as compared to its previous tender. It received a bid at INR 13,300/MT (Basic) for 25-80 mm LAM Hard Coke, which was INR 12,100/MT (basic) earlier. Whereas, for LAM undersize Mix Coke (0-25 mm), it received bid at INR 11,500/MT on Ex-Works basis.
Recently, Indian government imposed a basic customs duty of 2.5% on imports of Met Coke and Coking Coal. Met Coke imports in India have been rising owing to lower prices in the global market. In FY14, India imported around 4.2 MnT Met Coke as against 3.0 MnT in FY13.
A senior official of DPL said, “We understand that the domestic market is under pressure owing to falling Met Coke prices in global market.”
DPL had invited bids for 7200 MT Low Ash Metallurgical Hard Coke (25-70/80 mm) in 3 lots (2,400 MT each) on 14 July, 2014. It also invited bids for sale of 2,000 MT LAM Coke (undersized Mixed Coke) of size 0-25 mm in 10 lots (200 MT each).
Other private manufactures are selling Low Ash Coke (30-70 mm) at around INR 14,000- 14,500/MT Ex-Plant East Coast of India, based on quantity and payment terms.
DPL is one of the leading Indian merchant Coke producers with around 0.5 MnT of installed capacity.
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