Coal India arm BCCL hikes prices of select coking coal grades by up to 14%
The revision covers select steel, direct feed and washery grades, with industry experts expecting a modest immediate impact on buyers.
On Tuesday, BCCL, a subsidiary of Coal India, announced a price revision for certain grades of raw coking coal targeted at non-regulated sector buyers. The board of directors approved increases ranging from 0.1 percent to 14 percent, with the goal of resolving significant discrepancies in coal pricing, per a recent filing to the stock exchange.
The adjustment pertains specifically to steel grades I and II, direct feed, and various washery coal grades for non-regulated buyers. The basic prices for these selected grades have been raised by a range of 0.1 to 14 percent above the current rates. While industry analysts note that the hike may slightly boost the cost of domestic coking coal for steel producers and other non-regulated purchasers, they believe the immediate effect will likely be relatively minor due to the limited scope of the price revision.
BCCL is a crucial player in India's steel industry, operating extensive mining operations across Jharkhand and West Bengal, with a particular emphasis on the Jharia Coalfield.
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