India: Thermal coal port stocks inch up w-o-w in week 49, 2024

• Stocks at Gangavaram surge by 28% w-o-w
  
  
• Adani's inventories increase by 1.4% w-o-w
  
  

Thermal or non-coking coal stocks at Indian ports increased marginally by 2% to 13.00 million tonnes (mnt) in week 49 from 12.74 mnt in week 48, according to BigMint's data.

Company-wise break-up

• Adani Enterprise: Inventories increased slightly by 1.4% to 3.46 mnt in week 49 from 3.41 mnt in the previous week.
  
  
• Agarwal Coal: Stocks rose 1.4% to 1.17 mnt from 1.15 mnt in the period under review.
  
  

Port-wise break-up

• Paradip: Inventories climbed up by 5.7% to 1.65 mnt in week 49 from 1.56 mnt in week 48.
  
  
• Vizag: A 7% increase was observed, to 0.92 mnt from 0.86 mnt.
  
  
• Gangavaram: Stocks surged 27.9% to 0.34 mnt in week 49 from 0.27 mnt.
  
  
• Tuticorin: A marginal 2% increase was recorded, with stocks at 1.30 mnt in week 49 compared to 1.28 mnt in the previous week.
  
  
• Navlakhi: Inventories decreased slightly by 1.4% to 0.87 mnt from 0.88 mnt.
  
  

Market overview

Portside prices of South African thermal coal remained stable last week, with RB2 (5500 NAR) priced at INR 9,500/tonne (t), while RB3 (4800 NAR) saw a slight increase of INR 200/t to INR 7,800/t ex-Gangavaram due to higher offers from suppliers. South African indexed prices for RB3 and RB2 were unchanged at $69.5/t and $88.5/t FOB, respectively. The market remains range-bound, with limited demand for RB3 unless prices are further adjusted.