India: Thermal coal port stocks increase w-o-w on limited buying

• Dhamra, Kandla stocks register surge
• Domestic supply caps import demand

India’s coal inventories at major ports increased by 11.4% week-on-week (w-o-w) to 15.07 million tonnes (mnt) in Week 25, compared with 14.72 mnt in week 24, supported by higher arrivals and slower evacuation at key ports. Imported coal demand remained subdued as ample domestic coal availability remained the preference over costlier imported coal.

Port-wise inventory movement

Inventory levels increased across several major ports during the week. Dhamra recorded the sharpest rise among key ports, with stocks surging 88.8% w-o-w to 1.66 mnt. Kandla followed with a 36.9% increase to 1.46 mnt, while Mundra rose 20.7% to 1.70 mnt. Paradip and Dahej also posted gains of 8.4% and 10%, respectively, reaching 1.43 mnt and 0.94 mnt.

Hazira remained the largest stockholding port, with inventories increasing 2.4% to 2.53 mnt.

On the downside, Magdalla inventories declined 12.9% to 1.11 mnt. Vizag and Mangalore recorded falls of 15.9% and 14.7%, respectively, while Karaikal dropped 10.6%. Tuticorin also witnessed a marginal decline of 3.4% to 0.84 mnt.

Importer-wise trends

Adani Enterprises remained the largest importer, with port inventories of 3.31 mnt, followed by AM/NS India at 1.25 mnt and Adani Power at 1.03 mnt.

Among other major importers, Agarwal Coal held 0.65 mnt, while JSW Mineral reported stocks of 0.49 mnt. Tata Steel maintained inventories of 0.47 mnt, closely followed by Aditya Birla Group and Tata International at around 0.44 mnt each.

Market dynamics

Imported coal demand remained muted during the week despite the increase in port inventories. Comfortable domestic coal supplies and steady availability from Coal India Ltd continued to reduce the need for aggressive seaborne procurement.

The build-up in stocks at major ports such as Dhamra, Mundra and Kandla suggests that arrivals outpaced evacuation during the week. Market participants indicated that consumers remained focused on domestic supplies, while imported coal purchases were largely restricted to requirement-based buying.

Looking ahead, inventory levels are expected to remain comfortable as domestic coal production and dispatches continue to support consumption requirements across key sectors, including power, cement and industry.