- Coal inventories at power plants increase slightly
- Indonesian indexed prices drop for higher grades
The Indian portside market for Indonesian thermal coal remained steady w-o-w, reflecting a flat sentiment and sluggish trade. Activity was limited, with minimal material movement and no major deals. Demand from sectors such as ceramics, textiles and pharmaceuticals was moderate and primarily driven by need-based buying.
Consistent prices across Indian ports
As of 18 April 2025, Indonesian thermal coal prices remained unchanged w-o-w at key Indian ports, reflecting stable supply-demand dynamics. The 5000 GAR grade held at INR 7,800/tonne (t) at Kandla, 4200 GAR at INR 6,200/t in Kandla, and INR 6,100/t in Vizag, while 3400 GAR dropped slightly by INR 50/t to INR 4,900/t at Navlakhi. The steady pricing indicates a cautious market with limited buying or selling pressure.
Portside coal inventories inch up
Portside coal inventories saw a marginal rise w-o-w. According to BigMint data, thermal coal stocks at Indian ports edged up by 0.2% w-o-w to 12.33 million tonnes (mnt) in week 15 of CY’25, compared to 12.31 mnt the week before.
While the overall increase was modest, several key ports registered notable changes in their stock levels, indicating a possible shift in cargo movement and vessel arrivals.
Coal stocks at power plants improve slightly, but critical gaps remain
Coal inventories at Indian power plants also recorded a minor increase. As of 16 April, stockpiles stood at 58.36 mnt, up from 57.98 mnt a week earlier. This inventory level is estimated to be sufficient for roughly 20 days of consumption.
However, concerns remain, as a number of power plants are operating with critically low coal reserves. These include 11 plants dependent on domestic coal, seven relying on imported coal, and four using washery rejects. If replenishment is delayed, especially during peak summer demand, these facilities could face operational challenges, potentially straining the national power grid.
Indonesian indexed prices reflect mixed movements
Unlike the stable Indian portside market, Indonesian coal index prices showed mixed trends w-o-w. High-CV 5800 GAR coal dropped by $0.93/t to $81.59/t, while 4200 GAR fell $0.27/t to $49.62/t. In contrast, low-CV 3400 GAR rose slightly by $0.06/t to $33.15/t. The narrowing price gap suggests stronger demand or tighter supply for lower-grade coal.
Market outlook
The Indian portside coal market is likely to stay steady amid need-based demand and cautious buying. Slight inventory gains offer some buffer, but critically low stocks at certain power plants could prompt short-term buying if summer demand rises. Globally, firming interest in lower-CV Indonesian coal may influence import preferences, though overall activity is expected to remain subdued.
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