India: Thermal coal port stocks inch down in week 27, 2024

Non-coking coal stocks at Indian ports were around 15.30 million tonnes (mnt) in week 27 against 16.27 mnt in week 26, which decreased by 5.95% w-o-w.

Company-wise break-up

• Stocks held by Adani Enterprises dropped by -7.48% w-o-w to 5.1 mnt in week 27 against 5.5 mnt in week 26.
  
  
• Agrawal Coal port stocks rose by 10.22% w-o-w to 1.1 mnt in week 27 against 1 mnt in week 26.
  
  

Port-wise break-up

• In week 27, Paradip and Vizag Port's thermal stocks increased w-o-w at 1.39 mnt and 1.04 mnt, by 6.33% and 3.29% respectively as compared to week 26 , while Krishnapatnam Port's stock dropped by 11.33% w-o-w to 1.27 mnt in week 27.
  
  
• Magdalla Port experienced a drop of 13.83% w-o-w to 1.69 mnt in week 27 as compared to 1.96 mnt in week 26.
  
  
• Mundra Port experienced a decrease of 22.11% w-o-w to 0.90 mnt in week 27 as compared to 1.16 mnt in week 26.
  
  

Price trends, market overview -

Prices of the South African RB2 (5500 GAR) coal in the Asian market remained stable w-o-w at INR 10,100/tonne (t) ex-Gangavaram. Prices of RB3 (4800 NAR) at Gangavaram Port were recorded at INR 8,200/t, down INR 100/t w-o-w. Indian demand for South African coals remains on lower side and portside prices are expected to downtrend.

Some sellers were heard to have reduced their offers amid low buying interest. Cargoes of RB3 were less in the market. However, sellers were also not interested in stocking up due to low demand for the same.

Indonesian thermal coal portside trade activities in India have remained lacklustre this week. Prices of 3400 GAR coal at Navlakhi Port stood stable at INR 5,200/t, while 4200 GAR at Kandla Port at INR 6300/t ex-port. However, prices of 5000 GAR for both the ports Vizag and Kandla increased this week.