India: Thermal coal port stocks fall nearly 2% w-o-w

• Gangavaram’s stocks rise by 40.2% w-o-w
• Mundra’s stocks fall sharply by 22.4% w-o-w

Thermal coal inventories at Indian ports declined by 1.7% to 13.13 million tonnes (mnt) in week 52 from 13.35 mnt in week 51, according to BigMint’s data.

Company-wise break-up:

• Adani Enterprise: Stocks rose by 4.2% to 3.55 mnt in week 52 compared to 3.41 mnt in week 51.
• Agarwal Coal: Inventories increased significantly by 12.9% to 1.41 mnt from 1.25 mnt.

Port-wise break-up:

Coal inventories at Paradip port recorded a slight increase of 1.3% to 1.76 million tonnes (mnt) in week 52 from 1.74 mnt in week 51, indicating stability in stock levels.

Stocks at Tuticorin port saw a significant drop of 10.3%, falling to 1.14 mnt in week 52 from 1.27 mnt in the previous week, suggesting reduced coal inflows or increased offtake.

Thermal coal inventories at Dhamra port declined by 5.8% week-on-week to 0.98 mnt from 1.04 mnt, continuing a downward trend.

Vizag port reported an increase of 2.4%, with coal inventories rising to 0.94 mnt in week 52 compared to 0.92 mnt in week 51, indicating a moderate recovery.

Inventories at Hazira (Adani) port grew by 5.6% week-on-week, reaching 0.90 mnt in week 52 from 0.85 mnt, highlighting improved stock levels.

Mangalore port registered a notable rise in coal inventories, increasing by 7.6% to 0.86 mnt in week 52 from 0.80 mnt in week 51, showcasing steady gains.

Market overview

South Africa’s imported thermal coal portside prices declined last week amid higher port inventories and subdued buying ahead of the holidays. RB2 (5500 NAR) prices dropped by INR 100/t to INR 9,250/t, while RB3 (4800 NAR) prices fell by INR 50/t to INR 7,750/t ex-Gangavaram. Frequent auctions by Coal India Limited subsidiaries also contributed to market oversupply. Thermal coal stocks at Indian ports rose slightly by 0.5% to 13.35 mnt in week 51. FOB prices for RB2 fell by $2/t to $86/t, and RB3 eased by $2/t to $66/t, reflecting subdued demand.