Coking coal stocks at major Indian ports were assessed at around 4.10 million tonnes (mnt) in week 37 of calendar year 2024 (CY’24), a 10% decline from 4.57 mnt in week 36, according to BigMint data.
Company-wise break-up:
SAIL’s coking coal port stocks dropped by 11% w-o-w to 1.43 mnt in week 37 from 1.6 mnt in week 36.
JSW Steel’s coking coal stocks dropped by 30% w-o-w to 0.25 mnt in week 37 from 0.36 mnt in week 36.
Tata Steel’s coking coal stocks declined by 11% w-o-w to 0.91 mnt in week 37 from 1.02 mnt in week 36.
Port-wise break-up:
At Haldia Port, stocks dropped by 7% to 0.89 mnt w-o-w in week 37 from 0.96 mnt in week 36.
Paradip Port stocks rose 4% to 1.25 mnt in week 37 from 1.20 mnt in week 36.
Dhamra Port saw a 10% decline to 0.99 mnt from 1.10 mnt w-o-w.
Market overview
Towards the end of last week, BigMint’s India Composite Steel Index lost another 1% to fall to 130 points, a level seen three years and nine months ago – to be precise, on 18 December, 2020 when it had touched 134.5. In fact, last Friday’s close was even lower, closer to 11 December 2020’s 128.9. The sub-indices fell in tandem w-o-w. The flat steel sub-index fell a steeper 1.30% but longs a nominal 0.61%.
Australian PHCC prices dropped by $1/t to $180/t FoB Australia today as against $181/t, FoB a week ago. Prices were reduced amid weak sentiments in the steel and the downturn in the international coke markets.
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