In SECL’s recent spot e-auction, BALCO, Jindal Power and Prakash Industries, the country’s big companies, participated aggressively and bought around 77% of coal offered.
The state run largest coal producer and subsidiary of CIL, SECL, witnessed high bids in its recently concluded coal e-auction held on 21 May’15 to offer 0.7 MnT of non-coking coal. The prices were boosted by INR 300-500/MT for different grades and mines.
One participant in the auction mentioned, “The recent auction saw eager participation by steel and power giants of the country. Owing to the big companies involved in this auction, the total quantity fetched comparatively high bids after prices were hiked by INR 300-500/MT.”
Auction prices rose owing to participation by the big companies, along with lack of coal supply to the companies who lost mines in recent block auctions.
In this auction companies like Bharat Aluminium, Jindal Power, Prakash Industries and Godawari Power participated very aggressively and emerged as bidders for the largest quantities.
Big participants in the Auction
• Bharat Aluminum received total 0.28 MnT of coal from Gevra and Manikpur OC (stock) mines with winning price at INR 1,730/MT (225,000 MT) for size G11 ROM coal (4000-4300 GCV) and at INR 1,528/MT(55,500 MT) for size G12 ROM coal respectively.
• Jindal Power bid at INR 1,690/MT for 78,900 MT quantity of G11 size coal (4000-4300 GCV) from Gevra OC (stock) Mine with base price of INR 1,140/MT.
• Prakash Industries bid for different mines such as Gevra OC- G11 grade, Manikpur-G12 grade, Rani Atari (stock) G5 grade etc for about 99,800 MT Coal. The company received 38,600 MT coal at INR 1,730/MT.
| Consignee Name | Colliery | Grade | Qty | Floor Price | Bid Price | Sector |
| Bharat Aluminium | Gevra OC(Stock) | G11 Size ROM | 225,000 | 1,140 | 1,730 | Power |
| Jindal Power | Gevra OC(Stock) | G11 Size ROM | 78,900 | 1,140 | 1,690 | Power |
| Prakash Industries | Manikpur OC (Stock | G12 ROM (-100 mm) | 30,400 | 1,068 | 1,518 | Sponge Iron |
| Godawari Power & Ispat | Gevra OC(Stock) | G11 Size ROM | 40,000 | 1,140 | 1,740 | Sponge Iron |
| Agarwal Coal | Manikpur OC (Stock | G12 ROM (-100 mm) | 9,500 | 1,068 | 1,558 | Trader |
| Anjani Steels | Rajgamar 4&5 | G5 Size ROM | 6,000 | 2,800 | 3,810 | Sponge Iron |
| Century Pulp & Papers | Gevra OC(Stock) | G11 Size ROM | 8,000 | 1,140 | 1,740 | Pulp & Papers |
Quantity in MT
Price in INR
Source: SteelMint
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