India: Thermal coal port stocks edge down w-o-w in week 39, 2024

• Adani Enterprise's stocks rise 4.4%, Agarwal Coal's up 4.6%
  
  
• Dhamra Port's stocks surge 22.3%, Vizag Port's drops 22.3%
  
  

Non-coking coal stocks at Indian ports dipped by 1.6% to 12.90 million tonnes (mnt) in week 39 from 13.11 mnt in week 38, CY'24, according to BigMint's data.

Company-wise break-up

• Adani Enterprise's stocks rose 4.4% w-o-w to 4.20 mnt.
  
  
• Agarwal Coal's stocks grew 4.6% w-o-w to 0.93 mnt.
  
  

Port-wise break-up

• Dhamra Port registered a significant 22.3% w-o-w rise to 1.03 mnt.
  
  
• Gangavaram Port saw a notable surge of 156.7% w-o-w to 0.15 mnt.
  
  
• Vizag Port recorded a sharp decline of 22.3% w-o-w to 0.51 mnt.
  
  

Market overview

Portside prices of South African thermal coal dropped by INR 50/t this week. RB2 (5500 GAR) and RB3 (4800 GAR) coal were recorded at INR 9,400/t and INR 7,550/t ex-Gangavaram, respectively. Around 10,000 t of RB2 were sold at INR 9,200/t at Gopalpur Port, though some offers dipped below INR 9,200/t, reflecting weaker demand in the market. However, with the hike in semi-finished steel and sponge prices, traders are planning to hike offers.