- Paradip, Dhamra register sharp inventory gains
- Tuticorin sees stable stocks, Mangalore rises 25%
India’s portside thermal coal inventories dipped marginally to 11.86 mnt in week 39 from 11.93 mnt in week 38, as per provisional BigMint data. Market stability was shaped by fluctuating ocean freights and the recent GST reform, with participants preferring a wait-and-watch stance before restocking aggressively.
Port-wise movements show mixed trends
On the east coast, inventories at Paradip rose nearly 9% to 1.56 mnt from 1.43 mnt last week. Dhamra also moved up by over 23% to 0.84 mnt against 0.68 mnt. Vizag, however, slipped 11% to 0.86 mnt from 0.97 mnt, while Gangavaram dropped by nearly 22% to 0.18 mnt compared with 0.23 mnt earlier. Kakinada fell around 20% to 0.14 mnt from 0.18 mnt, while Haldia eased by about 14% to 0.11 mnt against 0.13 mnt. Gopalpur was stable w-o-w at 0.07 mnt.
In the south, Tuticorin stayed unchanged at 0.74 mnt. Mangalore gained nearly 25% to 0.70 mnt from 0.56 mnt. Stocks at Krishnapatnam halved to 0.12 mnt from 0.25 mnt earlier, while those at Karaikal jumped by over 83% to 0.11 mnt from 0.06 mnt.
On the west coast, Hazira climbed higher by nearly 4% to 2.11 mnt from 2.03 mnt. Dahej inched up to 0.91 mnt from 0.90 mnt. Mundra fell by about 5% to 0.95 mnt from 0.99 mnt, while Kandla dropped by over 10% to 0.80 mnt from 0.89 mnt. Navlakhi also slipped by nearly 5% to 0.90 mnt compared with 0.95 mnt last week. Magdalla declined to 0.27 mnt from 0.32 mnt, while Bhavnagar eased to 0.21 mnt from 0.22 mnt. Tuna held steady at 0.21 mnt. Jamnagar fell sharply to 0.04 mnt from 0.10 mnt, while Pipavav slipped slightly to 0.03 mnt from 0.04 mnt. Goa, meanwhile, registered fresh inflows at 0.01 mnt compared with negligible stock last week.
Company-wise adjustments show divergence
Adani Enterprises’ portside inventories dropped by around 3% to 3.38 mnt in week 39 from 3.47 mnt in week 38. On the other hand, Agarwal Coal’s holdings inched up slightly by nearly 1% to 0.95 mnt compared with 0.94 mnt last week.
Market overview
South African portside coal prices in India edged higher this week following GST changes, but trades remained thin. At Vizag, RB2 increased INR 450/t w-o-w to INR 8,200/t and RB3 rose INR 300/t to INR 7,100/t. At Gangavaram, RB2 climbed up by INR 300/t to INR 8,200/t, while RB3 also gained INR 300/t to INR 7,100/t. A bid-offer disparity in the market led to limited deals. CNF India export offers remained at the same level w-o-w; however, as per sources, freights have eased out this week so far.
Indian portside Indonesian thermal coal offers firmed during the week ending 26 September 2025 as traders adjusted for cess-loaded older inventories following GST reforms. BigMint assessed 5000 GAR at INR 7,100/t in Kandla and INR 7,000/t in Vizag, while 4200 GAR rose to INR 5,900/t and INR 5,800/t, respectively. Navlakhi’s 3400 GAR grade climbed up to INR 4,500/t.
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