- G4 premiums cross 200% at key mines
- Lower-grade coal attracts limited premiums
Eastern Coalfields Ltd. (ECL) allocated 161,450 t across its e-auctions held on 2 and 10 September 2026, with bidding remaining highly selective across mine-grade combinations. The 2 September auction allocated 111,950 t against an offered quantity of 746,150 t, while the 10 September auction allocated 49,500 t. Premiums were particularly strong for G4 and G5 coal at selected mines, whereas G11, G12 and G13 attracted bids close to notified prices.
2 September auction sees sharp G4, G5 premiums
The 2 September auction recorded strong bidding for selected higher-grade coal, particularly G4 and G5. Sonepur Bazari OC G4 attracted the highest absolute winning price of INR 11,812/t, while Amkola OC G5 reached INR 11,116/t.
The strongest premium was recorded for Amkola OC G5 at 239.4%, followed by Sonepur Bazari OC G4 at 232.0% and Chinakuri UG G4 at 216.6%. These results showed a clear willingness among buyers to pay significantly above notified prices for specific mine-grade coal.
In contrast, Rajmahal and Hura C coal attracted bids almost exactly around notified prices. Despite large offered quantities of G11, G12 and G13, allocations remained relatively limited, indicating weaker competition for these grades.
10 September auction remains focused on G4
The 10 September auction allocated 49,500 t, with G4 again attracting the strongest bidding. Khottadih UG G4 accounted for 25,000 t at an average winning price of INR 10,431/t, while Jhanjra UG G4 recorded 5,000 t at INR 10,758/t.
The concentration of allocations in Khottadih and Jhanjra G4 reinforced the preference for higher-grade mine-specific material. W04 and W05 coal also received allocations, but at considerably lower absolute winning prices than the G4 parcels.
Premium calculation for the 10 September auction cannot be established from the supplied data, as the corresponding notified prices for these mine-grade combinations were not provided.
Compared with the 27 August auction, bidding for G4 remained strong in the subsequent auctions, although mine-level prices varied. Jhanjra UG G4, which recorded a winning price of INR 9,690/t with a premium of 172.8% on 27 August, attracted INR 10,758/t on 10 September, indicating continued strong competition for the same mine-grade combination. Khottadih UG G4, which had recorded INR 9,161/t and a 157.8% premium on 27 August, also remained a key G4 source in the 10 September auction, with the winning price rising to INR 10,431/t. The repeated strong bidding for these mines indicated sustained buyer preference for specific G4 material.
Buyer participation remains concentrated
In the 2 September auction, Satyam Iron & Steel Co. Pvt. Ltd. secured 10,400 t of G4, while Shyam Steel Manufacturing Ltd. purchased 10,000 t of G4. Apollo Energies secured 9,500 t, comprising G11, G13, G4 and G12. Sendoz Impex Ltd. purchased 8,000 t, mainly G13, while Vision Sponge Iron Pvt. Ltd. secured 6,200 t, predominantly G13.
For the 10 September auction, Giridhan Metal Pvt. Ltd. was the largest buyer with 9,750 t of G4, followed by Shyam SEL and Power Ltd. with 8,000 t of G4. Compact Weighing Pvt. Ltd. secured another 5,000 t of G4.
Overall, the two auctions continued to show a wide divergence in bidding intensity, with mine-specific G4 and G5 coal commanding substantial premiums, while larger parcels of lower-grade coal attracted comparatively limited competition.
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