In a rare move, India’s sole coking coal producer, Bharat Coking Coal Limited (BCCL), the wholly-owned operational subsidiary of state-owned Coal India Limited (CIL), has cut its price of coking coal by 23 percent for bulk customers, a company official said on Tuesday, February 9.
The official said that, after the 23 percent reduction, W-IV grade coking coal will be offered to large buyers at INR 2,675/mt ($36.64/mt).
The lower price will be offered until the end of the current fiscal year and bulk customers will have to transport the volumes purchased on their own through Indian Railways, Samiran Datta, director of BCCL, said. “We are clearing existing stocks and hope to liquidate the estimated current inventory of 3.5 million mt by end March,” he said.
