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India: Thermal coal port stocks edge down in week 45, 2024

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Non Coking
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12 Nov 2024, 12:30 IST
India: Thermal coal port stocks edge down in week 45, 2024

  • Adani Enterprise's stocks drop 8.9% w-o-w

  • Inventories at Vizag Port rise by 30% w-o-w

Thermal or non-coking coal stocks at Indian ports saw a slight 3.5% decline in week 45 to 11.99 million tonnes (mnt) from 12.43 mnt in week 44, according to BigMint's data.

Company-wise breakdown

  • Adani Enterprise saw stocks drop 8.9% in week 45 to 3.40 mnt from 3.73 mnt in week 44.

  • Agarwal Coal's inventories rose 15.7% to 0.98 mnt in week 45 from 0.85 mnt in week 44.

Port-wise breakdown

  • Paradip's stocks dipped 2.5% to 1.34 mnt in week 45 from 1.38 mnt in week 44.

  • Vizag saw a strong 30% increase to 0.47 mnt in week 45 from 0.36 mnt in week 44.

  • Krishnapatnam reported a 12.1% drop to 0.72 mnt in week 45 from 0.82 mnt in week 44.

Market overview

South African thermal coal prices remained mostly unchanged this week, with RB2 (5500 GAR) at INR 9,500/t and RB3 (4800 GAR) at INR 7,600/t ex-Gangavaram, as per BigMint's latest assessment. Despite rising sponge prices, buyers adopted a wait-and-watch approach, questioning price sustainability. Stocks at Richards Bay Coal Terminal (RBCT) are reportedly increasing, though demand from major importers, including India, remains muted.

12 Nov 2024, 12:30 IST

 

 

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