BigMint's assessment indicated that portside prices of South African thermal coal edged up this week. Prices of RB2 (5500 GAR) were assessed at INR 9,500/tonne (t), an increase of INR 150/t, while RB3 prices rose by INR 50/t to INR 7,650/t, ex-Gangavaram.
Domestic market prices appeared to have risen in line with international trends. The increase in offers was primarily driven by the resumption of the Chinese market and a decline in Indian port stocks. While the market showed an uptick at the beginning of the week, it stabilised towards the end due to the festive season. The price disparity is said to have narrowed, but transaction volumes remained low.
Non-coking coal stocks at Indian ports decreased by 1.8%, to 12.67 million tonnes (mnt) in week 40, down from 12.90 mnt in week 39 of calendar year 2024 (CY'24), according to BigMint's data. Meanwhile, India's thermal coal imports from South Africa surged by 39%, reaching 2.5 mnt in September 2024, compared to 1.8 mnt in August.