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India: Thermal coal port stocks edge up by 0.5% w-o-w

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24 Dec 2024, 19:41 IST
India: Thermal coal port stocks edge up by 0.5% w-o-w

  • Krishnapatnam's stocks rise by 17.6% w-o-w

  • Inventories at Vizag decline by 13.2% w-o-w

Thermal coal inventories at Indian ports recorded a slight increase of 0.5% to 13.35 million tonnes (mnt) in week 51 from 13.29 mnt in week 50, according to BigMint's data.

Company-wise break-up

  • Adani Enterprise: Stocks decreased marginally by 2.3% to 3.41 mnt in week 51 compared to 3.49 mnt in week 50.

  • Agarwal Coal: Inventories rose slightly by 0.4% to 1.25 mnt from 1.24 mnt in the previous week.

Port-wise break-up

  • Dhamra: Inventories increased by 6.5% to 1.04 mnt in week 51, compared to 0.98 mnt in the week ago.

  • Krishnapatnam: Stocks saw a significant rise of 17.6% w-o-w to 0.55 mnt from 0.47 mnt.

  • Magdalla: Stocks grew 14.4% w-o-w to 1.76 mnt from 1.54 mnt.

  • Vizag: Inventories declined by 13.2% to 0.92 mnt in week 51 from 1.06 mnt in week 50.

  • Hazira (Adani): Inventories decreased by 5.3% w-o-w to 0.85 mnt from 0.90 mnt.

Market overview

Portside prices of South African thermal coal in India fell w-o-w, driven by weak demand and increased stock levels. RB2 (5500 NAR) dropped by INR 50-100/t to INR 9,350/t, while RB3 (4800 NAR) declined by INR 50/t to INR 7,800/t, ex-Gangavaram, according to BigMint. Meanwhile, South Africa's indexed FOB prices fell by $0.50/t w-o-w, with RB3 at $68/t and RB2 at $88/t. The competitiveness of domestic coal continued to dampen demand for RB3, though limited imports and stock depletion may lead to stable prices soon.

24 Dec 2024, 19:41 IST

 

 

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