India: No bids for commercial coking coal blocks by steel producers

In an ironic twist, Indian steel-makers haven’t shown any interest in the four coking coal blocks put up for commercial auctions among the revised list of 38 blocks. Only two of the four coking coal blocks have attracted bids and that too by entities that don’t produce steel. Low fuel grade with high ash content and steep capital costs are reasons why these blocks have failed to attract commercial interest.