India: Thermal coal port stocks remain stable w-o-w in week 38, 2024
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- Adani's stocks rise 3.7% w-o-w, Agarwal Coal's fall 16.4%
- Mundra Port's stocks rise by 8.4% w-o-w, Navlakhi Port's drop 17.9%
Non-coking or thermal coal stocks at Indian ports were almost unchanged at 13.11 million tonnes (mnt) in week 38 of calendar year 2024 (CY'24) from 13.10 mnt in week 37, as per data compiled by BigMint.
Company-wise break-up
Adani Enterprise's stocks saw a slight increase of 3.7% w-o-w to 4.02 mnt from 3.88 mnt in week 37. Meanwhile, Agarwal Coal's stocks dropped by 16.4% w-o-w to 0.89 mnt from 1.07 mnt in the previous week.
Port-wise break-up
Vizag Port saw a significant w-o-w increase of 14.2% to 0.66 mnt in week 38 from 0.58 mnt in the prior week. Mundra Port also experienced an 8.4% rise to 1.31 mnt from 1.21 mnt. On the other hand, Dhamra Port's stocks declined by 15.8% w-o-w to 0.84 mnt from 1.0 mnt, while Navlakhi Port recorded a notable 17.9% drop to 0.62 mnt from 0.75 mnt.
Market overview: South African thermal coal prices remained stable, with RB2 (5500 GAR) at INR 9,400/t and RB3 (4800 GAR) at INR 7,600/t ex-Gangavaram, though some sellers offered RB2 as low as INR 9,200/t. Market conditions favour buyers due to high stock levels. Non-coking coal stocks at Indian ports fell 2.05% w-o-w to 13.10 mnt. Recent deals included RB2 sold at INR 9,000/t at Ennore Port and INR 9,500-9,600/t at Haldia. Meanwhile, RB3 prices dipped by $1/t to $69/t FOB.