India: Thermal coal port stocks decline by 2.3% w-o-w

• Stocks at Mundra plunge 19.5% w-o-w
  
  
• Haldia's inventories surge 16.6% w-o-w
  
  

Thermal coal inventories at Indian ports dropped by 2.3% to 13.89 million tonnes (mnt) in week 3 of CY'25 from 14.22 mnt in week 2, as per BigMint's data.

Company-wise break-up

• Adani Enterprise: Stocks increased marginally by 0.8% to 3.77 mnt in week 3 from 3.74 mnt in week 2.
  
  
• Agarwal Coal: Inventories rose 9.9% to 1.37 mnt in week 3 from 1.24 mnt in week 2.
  
  

Port-wise break-up

• Magdalla: Stocks decreased by 5.7% to 1.68 mnt in week 3 from 1.78 mnt in week 2.
  
  
• Paradip: Inventories fell 9.7% to 1.53 mnt in week 3 from 1.70 mnt in the preceding week.
  
  
• Mundra: Stocks plunged 19.5% to 0.87 mnt in week 3 from 1.08 mnt in week 2.
  
  
• Mangalore: Inventories edged up by 2.5% w-o-w to 0.70 mnt in week 3 from 0.69 mnt.
  
  
• Krishnapatnam: Stocks increased by 10.2% to 0.61 mnt in week 3 from 0.56 mnt in week 2.
  
  
• Gangavaram: Inventories climbed up by 9.2% w-o-w to 0.50 mnt in week 3 from 0.46 mnt.
  
  
• Haldia: Inventories surged by 16.6% to 0.38 mnt in week 3 from 0.33 mnt in the previous week.
  
  

Market overview

India's portside prices of South African thermal coal edged down this week. RB2 (5500 NAR) prices fell by INR 100/tonne (t) w-o-w to INR 8,850/t, while RB3 (4800 NAR) tags held steady at INR 7,300/t ex-Gangavaram. Weak sponge iron demand and high domestic coal supplies kept buying interest low, which exerted pressure on prices. South African export offers also dropped, with RB2 at $82/t FOB and RB3 at $62.5/t FOB. Sponge iron prices softened by INR 200/t w-o-w to INR 25,600/t exw-Rourkela. Market conditions are expected to remain challenging amid weak demand.