Thermal coal stocks across 21 Indian ports dropped by 4% w-o-w on 06 February, 2024, according to BigMint data. During week 5 of 2024, thermal coal stocks at Indian ports stood at 13.55 million tonnes (mnt) compared to 14.11 mnt in week 4, reflecting a decrease of 4% w-o-w.
Thermal coal stocks at 21 Indian ports decreased by 4% w-o-w. This decline is attributed to tepid demand from India due to an increase in domestic thermal coal production. Furthermore, the reduced demand for Indonesian coal from India can be traced to an increase in domestic production within India and supply constraints in Indonesia caused by rainfall, leading to diminished exports to India.
Rashmi group witnessed surge in coal stocks of nearly 65% at Dhamra port during week 5 of January 2024, reaching 0.47 mnt. Tata Steel stocks increased by 47% w-o-w, reaching 0.39 mnt at Paradip port.
At Mundra, Adani stocks dropped by 16%, reaching 0.73. At Gangavaram, Ultratech Cements’ stocks plunged by 56% to 0.02 mnt during the reviewed week.
Dhamra port recorded a drop of 4% w-o-w, with coal stocks reaching 1.55 mnt, compared to 1.49 mnt last week. Coal stocks at Mundra port plunged by 21% totaling 0.92 mnt. Thermal coal stocks at key ports like Tuticorin (1.41 mnt) experienced a 5% drop w-o-w. At Krishnapatnam (0.87 mnt), stocks decreased by 4% during the reviewed week.
Adani Enterprise reported total stocks of 3.06 mnt, down by 4% w-o-w. Adani reported total stocks at 1.01 mnt, increased by 10% w-o-w. Tata International (down by 12%) and NTPL (down by 10%) had stocks of 0.58 mnt and 0.44 mnt, respectively.
Outlook
Coal stocks may decrease in the coming week as the Indonesian thermal coal market is poised for a downturn in the near term. This downturn is primarily attributed to sluggish demand from the Indian market due to sufficient stocks at ports and increased domestic production.