- Total inventories hit 27-week high at 14.06 mnt
- Magdalla and Navlakhi drove majority of stock build
Total portside thermal coal inventories across India increased 5.3% w-o-w to 14.06 mnt in week 7 from 13.35 mnt in week 6. The latest level marked a 27-week high, last seen in week 31 of CY25 at 14.27 mnt, indicating the highest aggregate stock position in over six months.
East coast: Selective declines offset gains
On the east coast, Paradip slipped 1.2% to 1.33 mnt from 1.34 mnt, while Dhamra declined 4.8% to 1.30 mnt from 1.36 mnt. Vizag recorded a sharper fall of 14.8% to 0.91 mnt from 1.06 mnt. Haldia also decreased 14.0% to 0.18 mnt from 0.21 mnt. In contrast, Karaikal rose 72.7% to 0.38 mnt from 0.22 mnt.
West coast: Strong build at Magdalla, Navlakhi
Magdalla registered the sharpest increase of 92.6% to 1.63 mnt from 0.85 mnt. Navlakhi rose 28.9% to 0.98 mnt from 0.76 mnt. Mundra edged up 1.0% to 1.32 mnt from 1.31 mnt, while Kandla increased 6.5% to 0.74 mnt from 0.69 mnt. Hazira declined 3.3% to 1.81 mnt from 1.87 mnt and Dahej eased 4.7% to 0.93 mnt from 0.98 mnt.
Buyer-wise stock position
Adani Enterprises’ inventories increased 1.0% w-o-w to 3.37 mnt from 3.34 mnt. Agarwal Coal recorded a stronger 9.0% rise to 1.14 mnt from 1.05 mnt, reflecting higher stockholding during the week.
Outlook
With inventories reaching a 27-week high, the recent build was led by sharp increases at Magdalla and Navlakhi, while several east coast ports recorded declines. However, forward arrivals may face headwinds. Indonesian regulatory developments around RKAB approvals and DMO compliance could affect export visibility in the coming months.
Additionally, mine maintenance and operational disruptions in South Africa have impacted supplies, which may influence cargo inflows to Indian ports ahead. Stock positioning in the coming weeks will therefore depend on the pace of fresh arrivals versus evacuation trends.
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