- Adani expands stocks, while Agarwal reduces holdings significantly
- Tuna, Jamnagar, Gangavaram record sharp inventory increases
India’s portside thermal coal inventories inched up 0.4% w-o-w to 11.93 mnt in week 38 from 11.88 mnt in week 37, as per provisional BigMint data. Market activity stayed muted, but selective stocking at a few ports offset declines elsewhere.
Port-wise trends
In the east, stocks at Paradip edged up by 1.6% to 1.43 mnt, while Vizag saw a surge of 7.6% to 0.97 mnt. Gangavaram registered a sharp increase of 56.3% to 0.23 mnt. Dhamra slipped 9.8% to 0.68 mnt, and Gopalpur fell 4.6% to 0.07 mnt. Haldia, however, climbed 15.7% to 0.13 mnt.
In the south, Tuticorin saw stocks dipping slightly by 1% to 0.74 mnt. In Mangalore stocks dropped 15.9% to 0.56 mnt, and Kakinada saw a decline of 28.7% to 0.18 mnt. Krishnapatnam saw coal stocks dropping by 25.5% to 0.25 mnt, while at Karaikal stocks remained stable at 0.06 mnt.
On the west coast, Mundra gained 16.3% to 0.99 mnt, and Kandla increased 16.6% to 0.89 mnt. Hazira eased 1.9% to 2.03 mnt, while Magdalla declined 30.7% to 0.32 mnt. Navlakhi dropped 10.9% to 0.95 mnt. Among smaller ports, Tuna surged 80.9% to 0.21 mnt, Jamnagar rose 40.8% to 0.10 mnt, while Bhavnagar and Pipavav held steady at 0.22 mnt and 0.04 mnt, respectively.
Company-wise movements
Adani Enterprises’ inventories rose 14.9% to 3.47 mnt, while Agarwal Coal cut holdings by 14.9% to 0.94 mnt, showing divergent stocking strategies among major traders.
Market overview
Export offers from Richards Bay stayed unchanged, with RB2 assessed at $71/t FOB and RB3 at $60/t FOB, reflecting muted Indian buying.
The Indian portside market for Indonesian thermal coal stayed stable this week as participants delayed purchases ahead of the 22 September GST reform. Prices held at INR 6,950/t for 5000 GAR in Kandla and INR 6,850/t in Vizag, while 4200 GAR and 3400 GAR grades also remained unchanged.
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