Coal stocks across 23 Indian ports saw a minor increase as of 22 June 2024, according to BigMint data. During week 25 of calendar year 2024 (CY’24), thermal coal stocks at Indian ports stood at 16.26 million tonnes (mnt) compared to 16.05 mnt in week 24, which increased by 1.33%.
Besides, South African coal prices have also been range-bound in the last couple of weeks. End-users have subdued demand currently due to which offtake from ports has not shown any significant improvement.
Company-wise break-up
JSW Steel experienced a significant decline in its thermal coal stocks during week 25, inched up marginally 0.45 mnt. Stocks held by Adani Enterprises remained largely stable at 5.4 mnt.
Port-wise break-up
Paradip Port’s thermal stocks increased by 2.3% w-o-w to 1.32 mnt, while Vizag Port dropped 11% w-o-w to 1.17 mnt. Magdalla Port experienced a decrease of 5% w-o-w to 1.72 mnt.
Outlook
Stocks at Indian ports are expected to increase in the near term due to the onset of monsoons in the country. The end-users’ demand has already witnessed a decline resulting in increased stocks at the ports.
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