- Indonesian prices rise modestly in global market
- Freights see marginal increase, portside stocks fall
The Indian portside market for Indonesian thermal coal remained stable overall during the week ending 14 August 2025, with only marginal adjustments in select low-grade segments. According to BigMint’s latest assessment, most grades and ports recorded negligible w-o-w price variations, underscoring a balanced supply-demand environment in the domestic market.
Prices hold firm across major grades
Prices of key Indonesian thermal coal grades remained unchanged at leading Indian ports. The 5000 GAR grade was assessed at INR 7,150/tonne (t) at Kandla and INR 7,050/t at Vizag, while the 4200 GAR grade held steady at INR 5,700/t and INR 5,600/t, respectively. The 3400 GAR grade at Navlakhi Port was assessed stable w-o-w at INR 4,450/t, supported by localised supply constraints despite overall market stability.
Portside inventories decline, freights see slight uptick
India’s portside thermal coal inventories fell by 4% w-o-w to 13.70 million tonnes (mnt) in Week 32, compared to 14.27 mnt in the preceding week. The decline was primarily attributed to reduced vessel discharge activity at major eastern and western ports, although select southern and eastern ports witnessed moderate gains due to improved handling efficiencies.
On the freight front, Supramax rates on the Indonesia (East Kalimantan)-India (Navlakhi) route increased marginally by $0.03/dry metric tonne (dmt) to $15.93/dmt.
Power plant stocks adequate but distribution remains uneven
Thermal power plant coal inventories in India declined to 51.98 mnt as of 13 August 2025 from 52.96 mnt a week earlier, sufficient for approximately 17 days of power generation. However, 15 plants continue to operate at critical stock levels, spanning domestic, imported, and washery-reject coal. This reflects persistent supply chain coordination challenges despite comfortable aggregate reserves.
International market sees modest gains
In the global market, Indonesian coal prices posted modest increases amid constrained spot availability and selective restocking by East Asian buyers. The 5800 GAR grade rose by $0.74/t w-o-w to $75.45/t, the 4200 GAR grade gained $1.14/t to $43.06/t, and the 3400 GAR grade edged up by $0.44/t to $30.81/t. Market sentiment remained cautious, as demand recovery in key importing regions continued at a measured pace.
Market outlook
India’s portside market is likely to stay range-bound in the near term, with steady demand and sufficient supply. Low-GAR grades may see slight gains on local tightness, while global prices could find support from limited producer availability and seasonal restocking. Any major shift would hinge on a sharp rise in power demand or disruption in Indonesian exports.
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