India: Thermal coal port stocks largely stable in week 26, 2024

Non-coking coal stocks across 21 Indian ports remained stable as of 1 July 2024, according to BigMint data. During week 26 of calendar year 2024 (CY'24), thermal coal stocks at Indian ports stood at 16.27 million tonnes (mnt) compared to 16.26 mnt in week 25.

Company-wise break-up

• Stocks held by Adani Enterprises remained largely stable w-o-w at 5.5 mnt.
  
  
• Agrawal Coal port stocks also remained largely stable at 0.99 mnt.
  
  

Port-wise break-up

• Paradip and Krishnapatnam Port's thermal stocks are stable at 1.31 mnt and 1.43 mnt respectively as compared to week 25, while Vizag Port's stock dropped by 13.7% w-o-w to 1.01 mnt.
  
  
• Magdalla Port experienced an increase of 14% w-o-w to 1.96 mnt in week 26 as compared to week 25 at 1.72 mnt.
  
  
• Mundra Port experienced a decrease of 17.8% w-o-w to 1.16 mnt in week 26 as compared to week 25 at 1.41 mnt.
  
  

Prices of RB2 (5500 GAR) coal in the Asian thermal coal market remained stable w-o-w at INR 10,100/tonne (t) ex-Gangavaram. Prices of RB3 (4800 NAR) coal at Gangavaram Port were recorded at INR 8,300/t, unchanged w-o-w. South African coal prices are expected to remain range-bound or come under pressure on weaker buying interest. In the domestic market, Indian buying has remained subdued on high port stocks and onset of monsoon.