In the recently concluded SECL e-auction for Korba field, 150,000
tons of Gevra OC ROM material was auctioned. Gevra material will now be
available at Rs 2,200/MT (inclusive of tax). Material from these mines after
the June auction was available at around Rs 2,500/MT.
40,000 tons & 25,000 tons material from Kusmunda OC (Stock)
and Laxman OC (Stock) respectively, was also auctioned and will now be
available at Rs 2,400-2,450/MT (inclusive of tax). Coal from these mines is now
approximately cheaper by Rs 200/MT.
40,000 tons of Manikpur OC material auction was cancelled.
Speaking to traders based in Chhattisgarh, the following was
understood.
* Demand for domestic coal has come down
drastically in the last quarter and remains pale.
* Auction quantity was low because of monsoon.
* Coal prices in the domestic market are
attractively priced
* CIL prices may be under pressure because of cheaper
availability of imported coal
* Domestically, coal market looks bad for the next
couple of months
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