- Stocks rise at Paradip, Gangavaram, Mundra ports
- Portside South African thermal coal tags hold firm
Thermal coal inventories at Indian ports rose slightly by 0.2% w-o-w to 12.33 million tonnes (mnt) in week 15 of CY’25, from 12.31 mnt in the previous week, according to BigMint data. While the overall increase was marginal, several key ports recorded notable changes in stock levels, suggesting a shift in cargo movement and arrivals during the week.
Key port inventory trends
Among the major ports, Paradip recorded the most significant increase in inventory, by 13.9% w-o-w to 1.34 mnt from 1.17 mnt. Gangavaram’s stock levels also jumped sharply by over 60% to 0.12 mnt from 0.08 mnt, indicating a substantial cargo discharge during the week.
Mundra saw a 9.5% increase to 1.04 mnt, from 0.95 mnt, while Tuticorin registered a 12.3% w-o-w rise to 1.32 mnt. Kandla also reported a notable 44.7% rise in inventory, to 0.32 mnt.
On the other hand, several ports recorded stock declines. Inventories at Krishnapatnam fell steeply by nearly 53% to 0.11 mnt, while Tuna saw a 24.4% drop to 0.22 mnt. Kakinada and Karaikal reported declines of 16.5% and 10.9%, respectively. Other ports such as Goa, Magdalla, and Dahej also saw minor reductions, reflecting uneven vessel activity across the coast.
Company-wise inventory trends
On the company front, the portside inventory of Adani Enterprise declined by 6.2% to 2.47 mnt from 2.63 mnt in the previous week. Agarwal Coal also witnessed a reduction of 6.3%, to 1.03 mnt from 1.10 mnt.
This suggests that despite minor gains overall in national port inventories, top stockholding companies are still drawing down on their reserves, possibly to cater to ongoing demand in inland markets.
Market overview
Portside South African thermal coal prices in India remained steady w-o-w amid weak steel market sentiments. RB2 (5500 NAR) was assessed at INR 8,450/tonne (t) exw-Gangavaram and INR 8,500-8,600/t at Paradip, while RB3 (4800 NAR) held at INR 7,200-7,350/t across ports. Exw-Vizag RB2 offers stood firm at INR 8,200-8,300/t.
Despite a decline of INR 450/t in sponge iron prices to INR 27,550/t exw-Rourkela, coal prices held up due to tight vessel availability and balanced cargo demand. Freights from Richards Bay Coal Terminal to Paradip remained unchanged w-o-w at $14.2/t.
Internationally, RB2 offers stayed at $76/t FOB, while RB3 rose slightly to $63/t amid tighter supplies. Prices are likely to remain range-bound amid cautious demand.
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