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India: Thermal coal port stocks remain stable w-o-w

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Non Coking
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5 Nov 2024, 15:53 IST
India: Thermal coal port stocks remain stable w-o-w

  • Inventories of Adani Enterprises drop by 3% w-o-w

  • Stocks at Krishnapatnam Port rise by 33% w-o-w

Thermal or non-coking coal stocks at Indian ports remained largely stable this week, with a marginal dip of 0.28%. Stocks settled at 12.43 million tonnes (mnt) in week 44, compared to 12.46 mnt in week 43, according to BigMint's data.

Company-wise break-up

Adani Enterprise's stocks dipped 3%, reaching 3.73 mnt in week 44, compared to 3.83 mnt in the previous week.

Agrawal Coal's inventories dropped by 8.2% to 0.85 mnt from 0.93 mnt in week 43.

Port-wise break-up

Vizag saw the sharpest decline of 24%, with stocks down to 0.36 mnt in week 44 from 0.48 mnt in the previous week.

On the other hand, Goa registered a significant rise of 389%, with stocks jumping to 0.13 mnt from 0.03 mnt.

Krishnapatnam's inventories surged 32.9%, reaching 0.82 mnt, while Karaikal saw a 115.8% increase to 0.41 mnt.

Mundra's stocks edged up by 5.8%, rising to 1.09 mnt from 1.03 mnt in week 43.

In contrast, Dhamra experienced a steep decline of 20.9%, with inventories falling to 0.69 mnt from 0.87 mnt.

Market overview

South African thermal coal portside prices held steady w-o-w, according to BigMint. RB2 (5500 GAR) and RB3 (4800 GAR) were assessed at INR 9,500/t and INR 7,600/t ex-Gangavaram, respectively. Transaction volumes were limited as market participants remained cautious ahead of the festive holidays and amid unclear price signals, leading to a lack of big-ticket deals.

5 Nov 2024, 15:53 IST

 

 

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