India: Thermal coal port stocks edge up by 2% w-o-w

• Mundra’s inventories surge 24.5% w-o-w
• Krishnapatnam’s stocks fall 28.2% w-o-w

Thermal coal inventories at Indian ports increased by 2% to 14.22 million tonnes (mnt) in week 2 of CY’25 from 13.93 mnt in week 1, according to BigMint’s data.

Company-wise break-up

• Adani Enterprise: Stocks dropped by 3% to 3.74 mnt in week 2 from 3.86 mnt in week 1.
• Agarwal Coal: Inventories were down by 2.2% to 1.24 mnt in week 2 from 1.27 mnt in week 1.

Port-wise break-up

• Magdalla: Inventories rose 5.4% w-o-w to 1.78 mnt in week 2 from 1.69 mnt.
• Dhamra: Inventories climbed up by 7.8% to 1.48 mnt in week 2 from 1.37 mnt in week 1.
• Mundra: Stocks surged 24.5% w-o-w to 1.08 mnt in week 2 from 0.87 mnt.
• Vizag: Inventories increased by 9.1% w-o-w to 1.06 mnt from 0.97 mnt.
• Paradip: Stocks declined by 2.1% to 1.70 mnt in week 2 from 1.74 mnt in the previous week.
• Krishnapatnam: Stocks decreased significantly by 28.2% w-o-w to 0.56 mnt in week 2 from 0.78 mnt.
• Gangavaram: Stocks moved down by 5.8% to 0.46 mnt in week 2 from 0.49 mnt in week 1.

Market overview

India’s portside prices of South African thermal coal fell last week. RB2 (5500 NAR) prices decreased by INR 300/tonne (t) w-o-w to INR 8,950/t, while RB3 (4800 NAR) dropped by INR 350/t w-o-w to INR 7,300/t, both ex-Gangavaram. This price decline was driven by weak demand and falling sponge iron prices, alongside ample coal stocks at ports. Thermal coal inventories increased by 6% w-o-w to 13.93 mnt in week 1 of CY’25, BigMint’s data showed. South African export offers for RB2 decreased w-o-w to $85/t FOB, while RB3 remained steady w-o-w at $65/t FOB. Sponge iron prices softened by INR 400/t w-o-w to INR 25,800/t.