- ECL auction allocation ratio jumps to 48.9% from 7.4%
- G4 leads allocations with average premium of 91%
Eastern Coalfields Ltd. (ECL) witnessed a marked improvement in buyer participation in its e-auction conducted on 18 July 2026, with 36,600 t allocated against an offered quantity of 74,900 t, resulting in an allocation ratio of 48.9%. This represents a sharp recovery from the previous auction held on 13 July, when only 52,650 t was allocated out of 714,750 t offered, translating into an allocation ratio of just 7.4%.
The improved allocation reflected stronger buyer participation following the sharp reduction in the quantity on offer. However, procurement remained selective, with premium underground thermal coal grades continuing to attract aggressive bidding. G4 accounted for the largest share of allocations at 25,500 t, while premium G4 mines such as Nimcha UG (that is, underground) and Parbelia UG recorded the highest realised prices, reflecting strong competition for select high-quality coal. Lower-value grades witnessed relatively subdued bidding, whereas washery products continued to attract moderate premiums over notified prices.
G4 dominates allocations, premiums
G4 emerged as the most actively traded grade in the auction, accounting for 25,500 t of the total allocated quantity across 13 mines.
Bansra UG and Chora 7 and 9 Pit UG offered the highest quantities of 4,000 t each, realising average bid prices of INR 7,078/t and INR 6,500/t, respectively. Chora 10 Pit UG and Pandaveswar UG each allocated 3,000 t, fetching INR 6,590/t and INR 6,510/t, respectively.
Among the smaller lots, Nimcha UG realised the highest average bid price of INR 8,115/t, followed closely by Parbelia UG at INR 8,011/t and Bhanora WB UG at INR 7,747/t, highlighting buyers’ willingness to pay substantial premiums for select premium-quality underground coal. Other mines such as Patmohona UG, Ningha UG, Khandra UG, Dhemomain Incline, and Amritnagar UG realised bid prices ranging between INR 5,127-6,775/t.
Against the notified price of INR 3,557/t, G4 realised an overall weighted average bid price of around INR 6,786/t, translating into a premium of nearly 91% over the notified price.
Among buyers, Shakambhari Ispat and Power Ltd. emerged as one of the largest purchasers, securing 1,350 t from Bansra UG and 1,550 t from Central Kajora UG. Elite Metaliks Pvt. Ltd. procured 1,650 t across Bansra UG and Pandaveswar UG, while Spintech Tubes Pvt. Ltd. lifted 1,000 t from Pandaveswar UG. Other active participants included Niti Coal Merchants Pvt. Ltd., Shree Enterprises, Vaishnavi Enterprises, and Iconic Coal Company.
G3 continues to attract healthy premiums
G3 witnessed allocations of 6,000 t, equally divided between Central Kajora UG and Porascole (E) UG, with each mine allocating 3,000 t.
Central Kajora UG realised an average bid price of INR 6,556/t, while Porascole (E) UG fetched INR 6,537/t.
Against the notified price of INR 3,719/t, the grade realised an average bid price of around INR 6,546/t, translating into a premium of approximately 76%. Although significantly above the notified price, the premium was lower than the exceptionally strong levels witnessed in the previous auction.
Among buyers, Shakambhari Ispat and Power Ltd. emerged as the largest purchaser with 1,550 t, followed by Shree Enterprises with 1,000 t across the two mines. Other active buyers included Pratap Enterprises, Jay Jarasangh Traders, Trimurti Commodities Pvt. Ltd., Kumar Associates, and Bishwa Minerals Trading Pvt. Ltd.
G5 witnesses moderate competition
G5 recorded allocation of 5,000 t from Narainkuri Highway OC. The mine realised an average bid price of INR 4,888/t against the notified price of INR 3,275/t, translating into a premium of around 49%.
Among buyers, Shree Krishna Enterprise and Iconic Coal Company emerged as the largest purchasers with 1,500 t each, while Ratan Coal Suppliers Pvt. Ltd. booked 1,000 t.
G6 clears at notified price
G6 allocation stood at 2,600 t from Mohanpur OC.
The mine realised an average bid price of INR 3,033/t, almost identical to the notified price of INR 3,031/t, indicating limited competition for the grade.
Nature Reserves emerged as the largest buyer with 1,000 t, followed by Subhajit Enterprise with 200 t. Several other buyers, including Ma Kali Enterprise, Gorai Enterprise, Jalan Enterprises and Joy Maa Durga Transport Agency, procured smaller quantities.
Washery products continue to attract premiums
Washery grades maintained steady buyer interest, with both W04 and W03 clearing above their respective notified prices.
W04 recorded allocation of 2,200 t across Badjna UG (1,100 t), Khoodia UG (1,000 t), and Nirsa OC (100 t), realising average bid prices of INR 3,620/t, INR 3,621/t, and INR 3,613/t, respectively.
Against the notified price of INR 2,890/t, W04 realised an average bid price of approximately INR 3,620/t, translating into a premium of around 25%.
Among buyers, Grasim Industries Ltd. emerged as the largest purchaser with 750 t, followed by Ratan Coal Suppliers Pvt. Ltd. with 700 t. Other participants included Maa Vaisno Traders, Radhagobinda Malakar, Shail Devi, and Sarthak Minerals.
Meanwhile, W03 witnessed an allocation of 300 t from Hariajam UG, which realised an average bid price of INR 3,701/t against the notified price of INR 3,218/t, translating into a premium of around 15%. The entire quantity was procured by Grasim Industries Ltd.
Market outlook
The latest ECL e-auction highlights a significant recovery in buyer participation following the sharp reduction in quantities offered. However, procurement remained concentrated in premium underground coal, with buyers displaying a strong willingness to pay higher premiums for select mines offering superior-quality material.
While G4 accounted for the bulk of allocations, mines such as Nimcha UG, Parbelia UG, and Bhanora WB UG commanded the highest realised prices, underscoring continued demand for premium thermal coal from sponge iron and industrial consumers. In contrast, G6 cleared almost at its notified price, while washery products attracted moderate but steady premiums.
Going forward, bidding activity is expected to remain focused on premium coal grades and select underground mines, whereas lower-value thermal coal is likely to continue trading close to notified prices unless industrial demand strengthens materially.
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