- West coast sees steep correction led by Mundra, Kandla
- East coast declines continue despite selective build-ups
Portside thermal coal inventories across India declined 9.0% w-o-w to 12.15 mnt in the week ended 13 March from 13.35 mnt, marking a sharp correction amid limited fresh cargo arrivals and continued evacuation.
East coast: Continued decline with selective gains
On the east coast, Paradip fell 7.6% to 1.14 mnt, while Dhamra dropped 15.2% to 1.09 mnt and Vizag declined 7.1% to 0.79 mnt. Gangavaram decreased 21.7% to 0.04 mnt, reflecting continued evacuation. However, Krishnapatnam rose 36.1% to 0.21 mnt, while Haldia edged up 1.8% to 0.17 mnt. Gopalpur remained largely stable at 0.09 mnt, and Kakinada slipped 5.7% to 0.31 mnt.
West coast: Sharp correction across key ports
On the west coast, Mundra declined sharply by 23.3% to 1.31 mnt, while Kandla fell 21.4% to 0.49 mnt and Navlakhi dropped 19.6% to 0.66 mnt. Mangalore decreased 15.2% to 0.66 mnt, and Dahej fell 11.0% to 0.72 mnt. Hazira eased 3.5% to 1.92 mnt, while Magdalla remained stable at 0.76 mnt. Jamnagar declined 11.9% to 0.20 mnt, while Tuna fell 37.3% to 0.10 mnt.
However, Karaikal surged 67.5% to 0.34 mnt, and Goa rose sharply to 0.14 mnt from negligible levels, indicating fresh arrivals.
Buyer-wise stock position
Adani Enterprises inventories declined 4.1% w-o-w to 3.22 mnt, while Agarwal Coal stocks dropped 11.6% to 0.93 mnt, reflecting reduced stockholding amid cautious buying.
The overall decline reflected broad-based drawdown across both coasts, led by sharp corrections at key west coast ports such as Mundra, Kandla, and Navlakhi, along with continued evacuation at major east coast ports.
Outlook
Higher import prices, freight uncertainty, and cautious buying sentiment may continue to limit fresh bookings. This could keep portside inventories under pressure in the near term, with stock movements largely dependent on vessel arrivals and demand recovery.
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