- Stocks at Vizag, Gangavaram fall w-o-w
- Weak domestic demand curbs imports
India’s portside thermal coal inventories dropped 5.4% w-o-w to 13 million tonnes (mnt) in Week 35 from 13.78 mnt in Week 34, as weaker arrivals weighed on overall availability. High import offers, a slowdown in the Indian steel market, and weak domestic demand limited new bookings.
Port-wise trends
In the east, Paradip’s stocks fell 3.9% w-o-w to 1.57 mnt from 1.63 mnt, while Vizag declined 7.5% to 1.18 mnt from 1.28 mnt. Gangavaram recorded a sharp 18.5% fall to 0.25 mnt from 0.30 mnt, but Haldia inched up by 12.2% to 0.11 mnt.
In the south, Tuticorin’s inventories edged higher by 0.9% w-o-w to 0.83 mnt from 0.82 mnt, and Mangalore remained stable at 0.55 mnt. Kakinada was steady at 0.42 mnt, while Krishnapatnam surged 56.1% to 0.34 mnt from 0.22 mnt.
On the western coast, Mundra plunged 52.5% w-o-w to 0.49 mnt from 1.03 mnt, while Hazira eased 2.9% to 2.16 mnt. Navlakhi gained 4.8% to 1.23 mnt from 1.17 mnt, whereas Kandla slipped 1.3% to 0.79 mnt. At Pipavav, 0.05 mnt of fresh stocks were reported, all belonging to Ultratech Cement.
Company-wise movements
Adani Enterprises’ inventories fell 8.1% w-o-w to 2.95 mnt, while Agarwal Coal’s stock rose 4.2% to 1.32 mnt, reflecting divergent restocking strategies.
Market overview
South African RB2 and RB3 thermal coal prices at Gangavaram were stable w-o-w at INR 8,300/t and INR 7,200/t, respectively. At some eastern ports, offers eased by INR 100-200/t, as sellers reduced their quotes in response to weak demand.
Portside Indonesian thermal coal prices in India also stood still w-o-w, with 5000 GAR at INR 7,150/t (Kandla) and INR 7,050/t (Vizag) and 4200 GAR unchanged at INR 5,700/t and INR 5,600/t, respectively. The 3400 GAR grade held firm at INR 4,450/t at Navlakhi.
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