- Stocks pile up in Hazira, Gangavaram
- RB2 offers register marginal weekly growth
Portside thermal coal inventories in India stayed almost unchanged during week 28 at 15.84 mnt vs. 15.92 mnt in the prior week, as steady arrivals balanced muted offtake.
Port-wise trends
Hazira saw the sharpest gain, up by 120% to 2.14 mnt, while in Dhamra stocks rose by 12% to 1.63 mnt. In Navlakhi, stocks edged up by 7% to 0.94 mnt, and in Dahej by 9% to reach 0.79 mnt. In contrast, Magdalla saw stocks halving to 1.09 mnt. Stocks in Tuticorin dropped 20% to 0.89 mnt, and in Mundra fell 30% to 0.63 mnt.
At Vizag, portside stocks stood at 1.40 mnt this week, slightly down from 1.43 mnt last week – a marginal drop of around 2.7%. Paradip remained nearly stable, holding steady at 1.85 mnt against the previous week’s 1.85 mnt, showing a negligible 0.3% dip. Mangalore recorded a mild increase of 5.3%, with inventories rising to 0.75 mnt this week from 0.71 mnt last week.
Haldia’s stocks stayed mostly flat, dipping slightly to 0.22 mnt from 0.22 mnt last week, marking a minimal 2.9% decline. Gangavaram, however, posted a sharp rise – up by 145% to 0.56 mnt this week, compared to just 0.23 mnt the previous week.
Company-wise trends
Adani Enterprise’s stocks rose 6% to 3.22 mnt, while Agarwal Coal’s stocks moved up 2.7% to 1.15 mnt.
Market overview
Portside RB2 (5500 NAR) offers in India climbed up by INR 200-300/t w-o-w on firmer sponge iron prices and slight trade optimism. A small RB2 deal was closed at INR 7,500/t exw-Krishnapatnam. Yet, high domestic supply and cautious buying limited further gains.
Portside Indonesian thermal coal prices in India slipped during the week ending 11 July amid sluggish industrial demand and monsoon-linked slowdown. BigMint’s data shows 5000 GAR prices fell by INR250/t w-o-w to INR7,150/t at Kandla and INR 7,050/t at Vizag, while 4200 GAR eased by INR 50/t to INR 5,700/t and INR 5,600/t.
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