India: Thermal coal port stocks rise 2.4% w-o-w

• Adani's coal stocks increase, Agarwal sees decline
  
  
• Stocks at Gangavaram, Mangalore ports fall w-o-w
  
  

Thermal coal inventories at Indian ports increased by 2.4% to 13.66 million tonnes (mnt) in week 5 of CY'25 from 13.34 mnt in week 4, as per BigMint data.

Company-wise break-up

Adani Enterprise: Stocks rose by 4.2% to 3.63 mnt in week 5 from 3.49 mnt in the previous week.

Agarwal Coal: Inventories declined by 8.3% to 1.19 mnt in week 5 from 1.30 mnt in week 4.

Port-wise break-up

Mundra: Inventories surged by 35.6% to 0.93 mnt in week 5 from 0.69 mnt in week 4.

Krishnapatnam: Inventories rose by 17.4% to 0.65 mnt in week 5 from 0.56 mnt in the previous week.

Vizag: Inventories increased by 2.6% to 0.99 mnt from 0.96 mnt in week 4.

Mangalore: Stocks dropped by 4.2% to 0.69 mnt from 0.73 mnt w-o-w.

Gangavaram: Stocks fell by 9.5% to 0.42 mnt from 0.46 mnt in the previous week.

Mundra: Inventories surged by 35.6% w-o-w to 0.93 mnt from 0.69 mnt.

Market overview

Portside prices of South African thermal coal in India declined as weak demand and selling pressure persisted. RB2 (5500 NAR) coal prices fell by INR 100/t to INR 8,700/t, while RB3 (4800 NAR) declined by INR 50/t to INR 7,250/t at Gangavaram. South African RB2 export offers dropped by $1/t to $81/t FOB, while RB3 remained steady at $61.5/t FOB.

Despite lower stocks, limited inquiries and availability of domestic alternatives pressured prices. Domestic 5000 GCV coal prices rose to INR 5,900/t, up INR 350/t, but buying remained slow. Portside prices are expected to remain weak amid subdued demand and selling pressure from traders.