India: Portside thermal coal stocks decline over 3% w-o-w

• Magdalla port stocks corrects sharply
• Gangavaram, Krishnapatnam stocks post strong gains

Total portside thermal coal inventories across India declined 3.05% w-o-w to 13.63 mnt in the week ended 20 February from 14.06 mnt in the previous week, indicating a partial correction after touching a 27-week high in the previous week.

East coast: Mixed trend with sharp rise at Gangavaram

On the east coast, Paradip fell 7.17% to 1.23 mnt from 1.33 mnt, while Dhamra declined 8.96% to 1.18 mnt from 1.30 mnt. Vizag eased 5.14% to 0.86 mnt from 0.91 mnt, and Haldia dropped 16.30% to 0.15 mnt from 0.18 mnt.

West coast: Sharp correction at Magdalla

On the west coast, Magdalla saw the steepest decline of 48.50% to 0.84 mnt from 1.63 mnt, reversing last week’s sharp build. Dahej decreased 5.26% to 0.88 mnt from 0.93 mnt, and Bhavnagar slipped 4.62% to 0.25 mnt from 0.26 mnt.

Buyer-wise stock position

Adani Enterprise inventories increased 2.63% w-o-w to 3.46 mnt from 3.37 mnt. Agarwal Coal stocks declined 6.19% to 1.07 mnt from 1.14 mnt, indicating selective evacuation during the week.

Outlook

The weekly decline reflects a correction after the previous week’s strong build, largely driven by the sharp drawdown at Magdalla and lower stocks at key east coast ports. However, selective increases at Gangavaram and Krishnapatnam suggest cargo redistribution rather than uniform depletion.

Going ahead, Indonesian RKAB-related export uncertainty and South African supply disruptions may influence fresh arrivals. Stock movement will depend on the balance between incoming cargoes and evacuation pace across major ports.