- Adani’s stocks drop, Agarwal Coal’s rise
- Stocks at Gangavaram, Dhamra plunge
Thermal coal inventories at Indian ports increased slightly by 3.6% to 13.04 million tonnes (mnt) in week 8 of CY’25 from 12.58 mnt in the previous week, shows data maintained with BigMint.
The uptick follows a nearly 3-month low seen last week and was supported by gains in stocks at major ports such as Paradip and Haldia.
Port-wise break-up
Among the major ports, Paradip saw an 8.6% w-o-w increase in stocks to 1.59 mnt from 1.46 mnt. Haldia’s inventories grew 8.9%, to 0.39 mnt compared to 0.36 mnt in the previous week.
However, major ports such as Gangavaram and Dhamra saw sharp declines w-o-w. Gangavaram’s stocks dropped by 16.2% w-o-w to 0.31 mnt in week 8 from 0.37 mnt, while Dhamra’s inventories fell by 13.1% w-o-w to 1.17 mnt from 1.34 mnt.
Company-wise break-up
Stocks held by major coal-handling companies showed mixed trends. Adani Enterprise saw its inventories drop to 3 mnt in week 8 against 3.16 mnt in week 7. However, Agarwal Coal recorded a marginal increase to 1.1 mnt as against 1 mnt in the previous week.
Market overview
Portside South African thermal coal prices in India declined w-o-w amid sluggish demand. RB2 (5500 NAR) dropped by INR 150/t to INR 8,500/t exw-Gangavaram, while RB3 (4800 NAR) fell by INR 50/t to INR 7,150/t. Improved domestic coal availability shifted buyers’ preference towards local supplies, leading to softer portside offers and bids falling by INR 100-200/t. Sponge iron producers also slowed down purchases, with plans to further limit procurement in the coming months.
In export markets, South Africa’s RB2 offers slipped by $2/t w-o-w to $80/t FOB, while RB3 declined by $3/t to $59/t FOB.
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