- Krishnapatnam Port inventory drops 3% w-o-w
- Port stocks may dip as restocking season ends
Thermal coal stocks across 21 Indian ports increased by 6% w-o-w on 20 May 2024, according to BigMint data. During week 20 of 2024, thermal coal stocks at Indian ports stood at 16.76 million tonnes (mnt) compared to 15.84 mnt in week 19, up 6%.
This increase can be attributed to a rise in demand for non-coking coal due to intense heatwaves in the country. Additionally, during the monsoon season, Indian domestic supplies may remain restricted, leading mills to restock.
Gujarat-based CGPL/ Tata witnessed an upward trend in its coal stocks at Mundra Port during week 20, to 0.43 mnt. Aditya Birla stocks surged significantly w-o-w to 0.05 mnt at Paradip Port. However, Agrawal Coal’s stocks at Magdalla increased by almost 20% w-o-w to 0.14 mnt.
At Tuna Port, located near Kandla Port, Swiss Singapore’s stocks increased significantly in week 20 to 0.16 mnt. At Kandla Port, Ultratech Cement’s stocks increased significantly to 0.21 mnt during the week under review.
Krishnapatnam Port recorded a 3% w-o-w decline in its coal stocks, with inventories touching 1.48 mnt in week 20, compared to 1.51 mnt in week 19. Coal stocks at Mundra Port increased 12% w-o-w to 1.37 mnt. Thermal coal stocks at key ports like Magdalla (1.31 mnt) and Paradip (1.34 mnt) experienced 6% and 38% increases respectively, w-o-w. At Vizag (1.28 mnt), stocks increased 16% during the reviewed week.
Adani Enterprises’ stocks drop by 2% w-o-w to 5.49 mnt in week 20, down from 5.62 in week 19 of CY’24. Agrawal Coal reported total stocks at 0.86 mnt, up by 3% w-o-w. Adani Power’s stocks increased by 20% to 0.57 mnt. Tata International coal stocks rose 27% w-o-w to 0.48 mnt.
Outlook
In the upcoming week, coal stocks at ports might drop as restocking comes to an end with the approach of the monsoon in the first week of June. This could affect imports, and the end of summer might reduce power demand, further influencing coal stock levels.