South Eastern Coalfields Ltd, the largest coal producing subsidiary of CIL, has concluded sales of semi coking grade of coal through spot e-auctions on 13 May’19.
The coal company had floated 46,728 MT coal for sale by Rail mode of spot auction scheme for May’19.
It is pertinent to note that SECL had initiated coal sale through spot e-auction scheme for the first time since Jan’19. While the last auction to be concluded by SECL was the special forward e-auction back in Mar’19.
Besides, SECL had intended to go for sales for coking coal this term; erstwhile the company had only carried out sales of non-coking coal in previous rounds of auction.
As per sources, SECL had managed sale of one-third of the total volume floated in the auction, which was shared among two participants.
Semi coking coal have comparatively less coking properties than coking coal, but can be blended with coking coal in adequate proportion to make coke. Thus making it useful as blend-able coal in steel making, merchant coke manufacturing and other metallurgical industries.
Surprisingly, the current scheme of semi coking coal sale had failed to garner interest from the Steel manufacturers. As the total 15,576 MT coal sold in the auction were only taken by the power sector.
MB Power had taken 11682 MT coal while the remaining 3894 MT was taken by Lanco Amarkantak power. Moreover, both these deals were concluded at the reserve price of coal set in the auction.
| Consignee Name | Grade | Quantity taken | Reserve Price | Bid Price |
| MB Power Ltd | Semi Coking Coal-II | 11,682 | 2796.00 | 2796.00 |
| Lanco Amarkantak Power Ltd | Semi Coking Coal-II | 38,94 | 2796.00 | 2796.00 |
Source: CoalMint Research
Quantity in MT
Price in INR/MT
Upcoming E-Auction of SECL:
Next up, SECL has intended to sale coal though Special forward e-auction which would be carried out for a tenure of Jun’19-Aug’19.
The company has floated 880,000 MT coal for sales in this auction, scheduled to be held on 10 Jun’19.
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