India's coking coal port stocks dip slightly in week 39, 2024

• SAIL's stocks drop 11%, JSW sees sharp increase
  
  
• Haldia leads with 2.3% rise in stocks to 0.98 mnt.

  
  
  

Coking coal stocks at major Indian ports were assessed at around 4.14 million tonnes (mnt) in week 39 of CY'24, a slight decline of 0.7% from 4.17 mnt in week 38, according to BigMint's data.

Company-wise break-up

• SAIL's coking coal port stocks dropped 10.5% w-o-w to 1.30 mnt from 1.45 mnt.
  
  
• JSW Steel (including Bhushan Power) saw a sharp 21.9% w-o-w rise from 0.38 mnt to 0.46 mnt.
  
  
• Tata Steel's stocks remained stable at 0.94 mnt, with a marginal increase of 0.4% w-o-w.
  
  

Port-wise break-up

• Haldia Port's stocks rose 2.3% w-o-w to 0.98 mnt.
  
  
• Paradip Port remained steady at 1.28 mnt, with no significant changes.
  
  
• Vizag Port witnessed a significant 10.0% w-o-w rise to 0.18 mnt.
  
  
• Mundra Port saw a notable 100% w-o-w increase to 0.03 mnt from nil stocks in the previous week.
  
  

Market overview

After 15 weeks of a sustained free-fall, Indian steel prices staged a come-back into the green zone, although these are still hovering at near-four-year lows. On 27 September, the BigMint India Composite Steel Index rose 1.20% w-o-w to close at 131.20 points. The rally was driven by an over 3% w-o-w recovery in the longs sector, which closed at 134.9 points. Flats, on the other hand, remained depressed, losing about 1% w-o-w.