India: ECL’s non-coking coal auctions see selective buying; G3, G4 fetch firm bids

• Low allocation ratio suggests cautious market sentiment
• Higher bids for G3 coal indicate firm demand for higher calorific material

Eastern Coalfields Limited (ECL) conducted two e-auctions on 26 February 2026, offering a combined 1,256,000 tonnes (t) of mostly non-coking coal across multiple grades. However, total allocations remained modest at 33,350 t, reflecting cautious and limited participation.

In the first auction, ECL offered 10,000 t of G5 grade from Gopinathpur MDO, of which 2,400 t were allocated at an average INR 3,758/t.

In the second auction, 1,246,000 t were offered across grades G3, G4, and W04 from several underground and opencast mines. Allocations stood at 30,950 t.

High-CV G3 coal from Jambad UG recorded the highest bids, with 7,000 t cleared at INR 7,979/t. Mid-grade G4 material from Kunustoria UG and Belbaid UG also fetched firm bids between INR 6,200-7,300/t.

Meanwhile, W04 grade accounted for the bulk of allocations, clearing across several mines, including Dabor OC, Chapapur OC, Lakhimata UG, Badjna UG, and Shyampur B UG, mostly in the INR 3,600-4,050/t range.

Buyer participation

Buyer participation remained fragmented, largely dominated by traders and small industrial consumers procuring need-based volumes.

In the smaller G5 auction, allocations were spread among several participants, including RCB Minerals Pvt Ltd, Sendoz Impex Ltd, Joy Maa Durga Enterprise, and Uttam Kumar Mondal, each securing smaller parcels.

Market overview

The auctions reflected disciplined procurement behaviour, with buyers focusing on specific grades and mine-linked parcels rather than aggressive participation across all offerings. Firm bids for G3 coal reflect continued demand for higher calorific material used in sponge iron and blending applications.

However, the overall low allocation ratio compared with the large offered quantity suggests buyers remained cautious amid volatile imported coal prices and uncertain cost trends. Traders and industrial consumers continued to procure need-based volumes, while maintaining flexibility in sourcing strategies.