India: Thermal coal port stocks drop slightly w-o-w in week 36, 2024

• Adani's stocks down by 6.6%, Agarwal Coal's falls by 8.3% w-o-w
  
  
• Tuticorin Port's stocks up by 18.56%, Navlakhi Port's drops by 19.36%
  
  

Non-coking or thermal coal stocks at Indian ports dropped by 4.19% w-o-w to 13.37 million tonnes (mnt) in week 36 of CY'24 from 13.96 mnt in week 35, as per data compiled by BigMint.

Company-wise break-up

• Stocks held by Adani Enterprises decreased by 6.6% w-o-w to 4.22 mnt in week 36 from 4.52 mnt in week 35.
  
  
• Agarwal Coal's port stocks declined by 8.3% w-o-w to 1.18 mnt from 1.29 mnt during the same period.
  
  

Port-wise break-up

Paradip Port's stocks dipped slightly by 0.72% to 1.51 mnt in week 36 compared to 1.52 mnt in week 35. Magdalla Port's stocks saw a 7.06% decline to 0.86 mnt from 0.92 mnt, while Dhamra Port recorded a drop of 6.24% to 0.87 mnt from 0.93 mnt. Tuticorin Port, however, showed a notable 18.56% increase, with stocks reaching 1.27 mnt from 1.07 mnt.

Navlakhi Port saw a sharp decline of 19.36% w-o-w to 0.73 mnt, and Mundra Port's stocks decreased by 13.72% to 1.05 mnt. Meanwhile, Vizag Port's stocks rose 9.50% to 0.61 mnt from 0.56 mnt.

Market overview: India's portside South African coal prices declined amid weak demand. BigMint's assessment indicated that portside prices of South African thermal coal fell by INR 100-300/tonne (t) ($1.19-3.57/t) w-o-w. RB2 (5500 GAR) and RB3 (4800 GAR) coal prices were assessed at INR 9,450/t ($112.51/t) and INR 7,600/t ($90.52/t) ex-Gangavaram, respectively. Trades remained subdued due to bid-offer disparities and weak steel demand.