India: Portside thermal coal stocks rise 3% w-o-w

• Mundra prices rise 22.6%, Vizag prices fall 11.9%
• Inventories rise at Adani Enterprises, Agarwal Coal

Total portside thermal coal inventories across India rose by 3% w-o-w to 13.35 mnt in week 6 from 12.96 mnt in week 5, reflecting a net build across key ports.

East coast: Prices at Dhamra rose 2.3% to 1.36 mnt from 1.33 mnt. While prices at Gangavaram recorded the sharpest increase, up 328.4% to 0.12 mnt from 0.03 mnt, prices at Vizag declined 11.9% to 1.06 mnt from 1.21 mnt. Prices at Paradip slipped 2.4% to 1.34 mnt from 1.37 mnt.

West coast: Prices at Mundra increased 22.6% to 1.31 mnt from 1.07 mnt, Kandla rose 1.4% to 0.69 mnt from 0.68 mnt, and Hazira declined 2.7% to 1.87 mnt from 1.92 mnt, while prices at Dahej eased 1.4% to 0.98 mnt from 0.99 mnt. Company-wise, Adani Enterprises inventories rose 4.3% to 3.34 mnt from 3.20 mnt, while Agarwal Coal increased 9.0% to 1.05 mnt from 0.96 mnt.

Outlook

With total portside inventories rising 3% w-o-w to 13.35 mnt, the data indicate improved stock availability at key ports. Gains at Mundra and Gangavaram offset declines at Vizag and Paradip, suggesting a redistribution of inventories rather than concentrated accumulation. Company-level stocks also increased. In the near term, stock levels may remain elevated unless evacuation outpaces fresh arrivals, with movements likely to remain port-specific based on cargo inflows and dispatch trends.