Thermal coal stocks at Indian ports declined by 2.2% w-o-w to 14.62 million tonnes (mnt) in week 20 of CY’25 compared to 14.95 mnt in the previous week. Weak demand and slower arrivals contributed to the overall drop, despite some restocking seen at select ports.
Port-wise inventory changes
Gangavaram port saw the sharpest weekly rise in inventory among major ports. Stocks more than doubled to 0.47 mnt, up by 136.5% from 0.20 mnt in the previous week, indicating an increase in vessel discharge activity. Haldia also recorded a 13.4% rise in stocks to 0.53 mnt amid steady inflows.
However, Vizag port witnessed a significant drawdown, with inventory falling nearly 20% to 0.73 mnt from 0.90 mnt. Similarly, stocks declined at Paradip by 2.8% w-o-w to 1.73 mnt. Tuticorin reported a major drop of 16% to 1.02 mnt, likely due to active dispatches to inland consumers.
In contrast, Mangalore port saw a marginal inventory increase of 0.9% to 1.03 mnt from 1.02 mnt amid balanced arrivals and consumption.
Elsewhere, Kandla and Kakinada reported moderate gains in inventory. Kandla’s stocks increased by 5% to 0.79 mnt, while Kakinada saw inventory rising by 3.9% to 0.27 mnt. Stocks at Tuna and Jamnagar ports remained largely stable, with slight variations.
On the other hand, significant declines were reported at Karaikal (down 18.8% to 0.52 mnt), Krishnapatnam (down 7% to 0.35 mnt), Dahej (down 7.3% to 0.54 mnt), and Gopalpur (down 9.1% to 0.06 mnt).
Company-wise inventory trends
Adani Enterprises saw a noticeable rise in its portside holdings. Stocks rose by 11.3% to 3.48 mnt in week 20, up from 3.12 mnt in week 19, possibly due to fresh imports or slow sales. Conversely, Agarwal Coal’s stocks dipped by 4.1% to 1.24 mnt from 1.30 mnt.
Market overview
South African thermal coal prices at Indian ports dropped due to weak demand and rising inventories. RB2 fell by INR 50/t to INR 8,250/t at Gangavaram, while RB3 declined to INR 7,150/t. Sponge iron prices also fell, with C-DRI down INR 300/t to INR 25,300/t. Overall, market sentiment remained soft with limited buying interest.
Indonesian thermal coal prices at Indian ports declined due to oversupply and low demand. The temporary closure of Magdalla Port caused cargo congestion at nearby ports like Navlakhi, adding to the selling pressure. Prices of 5000 GAR remained steady at INR 7,800/t at Kandla, while 4200 GAR was assessed at INR 6,200/t and 6,100/t at Kandla and Vizag, respectively. Prices of 3400 GAR grade dropped by INR 50/t to INR 4,550/t at Navlakhi.
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