- Bharatpur G12 attracts highest premium of 24.5%
- Entire volume of washery rejects sold at notified price
Mahanadi Coalfields Ltd. (MCL) witnessed healthy participation in its latest spot e-auctions held on 31 July 2026, with buyers showing strong preference for selected G12 grades despite the ongoing monsoon. Around 764,200 t were allocated across G9, G11, G12, G13, G14 and washery rejects, while a separate Kaniha G12 auction witnessed 100% allocation of the entire 60,000 t offered. Buying remained requirement-based, but competition was concentrated in preferred mines offering consistent quality and reliable logistics rather than on grade alone.
G12 mines witnessed varied bidding premiums
G12 remained the most actively traded grade across the auctions. In the separate Kaniha auction, the entire 60,000 t was sold at an average winning price of INR 1,233/t against the notified price of INR 1,101/t, translating into a 12% premium. Feegrade and Company Pvt. Ltd. emerged as the largest buyer with 20,000 t, followed by Rungta Mines Ltd. (10,000 t) and Sri Baba Plywood (8,500 t).
In the larger auction, Bharatpur G12 recorded the strongest realisation, with an average winning price of INR 1,371/t, reflecting a 24.5% premium. Bhubaneswari G12 realised INR 1,287/t, or a 16.9% premium, while Ananta G12 settled at INR 1,218/t, a 10.6% premium. The difference in premiums despite the same grade highlighted buyers’ preference for mine-specific coal quality, consistency and suitability for end-use industries.
G11 and G13 premiums remain firm
Siarmal G11 continued to attract healthy demand, with 30,000 t allocated at an average winning price of INR 1,480/t against the notified price of INR 1,184/t, resulting in a 25% premium. However, allocations declined sharply from 134,000 t in the previous auction to 30,000 t, reflecting lower availability rather than weaker demand.
Kulda G13 remained the dominant G13 source, with 92,200 t allocated at an average winning price of INR 1,270/t, translating into a 25% premium over the notified price of INR 1,016/t. By comparison, Orient G13 cleared only 300 t at the notified price, indicating limited buyer interest for that mine.
Lower grades see selective buying
Demand for lower grades remained mixed. Garjanbahal G14 and LBL Int G14 both realised INR 977/t against a notified price of INR 930/t, reflecting a 5.1% premium, while Hingula G14 achieved only a 1.3% premium at INR 942/t. Siarmal G9 attracted a stronger 25% premium, with bids averaging INR 1,883/t against the notified price of INR 1,506/t. Meanwhile, IB Valley Washery Rejects witnessed full allocation of 45,000 t at the notified price of INR 507/t, indicating adequate availability and limited bidding competition.
Buyer profile shifts from previous auction
Compared with the previous MCL auction, where Rungta Sons Pvt. Ltd. dominated procurement across multiple grades, the latest auction saw buying spread across a broader mix of industrial consumers. Earth Minerals Company Ltd. and ALPS Mining Services Pvt. Ltd. emerged as the largest buyers with 50,000 t each, mainly in G14. Pavitra Commotrade Pvt. Ltd. secured 40,000 t of G13, while Agarwal Coal Corporation Pvt. Ltd. purchased 40,000 t across G13, G14, and G9. In G12, demand was led by Utkal Alumina International Ltd., Agarwal Fuel Corporation Pvt. Ltd., and Feegrade and Company Pvt. Ltd., indicating continued participation from metals, power, and industrial consumers.
Comparison with 11 Jul’26 auction
Compared with the 11 Jul’26 auction, bidding patterns shifted noticeably across mine-grade combinations. Siarmal G11 allocations declined sharply to 30,000 t from 134,000 t, although the average winning price remained unchanged at INR 1,480/t, indicating that buyer interest in the grade stayed firm despite lower availability. Kulda G13 allocations also decreased to 92,200 t from 191,900 t, but the premium remained almost unchanged at around 25%, reflecting continued preference for Kulda coal. In contrast, G12 demand strengthened around selected mines, with Bharatpur G12 fetching the highest premium of 24.5%, well above the premiums realised by G12 mines in the previous auction, highlighting stronger competition for quality G12 coal from preferred locations.
Market sentiment
The latest auction indicated that buyers continued to procure cautiously during the monsoon, but competition remained healthy for coal from preferred mines. Premiums varied significantly across mines despite identical grades, reflecting greater emphasis on coal quality, operational performance, logistics and plant-specific requirements. While procurement remained need-based, healthy premiums for G9, G11, G12 and Kulda G13 suggested that demand for quality coal remained resilient, whereas lower-grade material continued to attract only modest premiums due to comfortable domestic availability.
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