India: Thermal coal port stocks rise by over 2% w-o-w

• Stock levels at ports edge up
  
  
• South African coal prices show mixed trend
  
  

Thermal coal stocks at Indian ports increased by 2.3% to 13.29 million tonnes (mnt) in week 50 from 13 mnt in week 49, as per BigMint's data. While demand remained stable, improved arrivals contributed to increased stock levels at several ports.

Company-wise break-up

Adani Enterprise: Inventories recorded a marginal increase of 0.8% to 3.49 mnt in week 50 compared to 3.46 mnt in week 49. Consistent procurement and stable arrivals at ports supported the slight uptick.

Agarwal Coal: Stocks witnessed a significant rise of 6.2% w-o-w, reaching 1.24 mnt in week 50 against 1.17 mnt recorded the previous week.

Port-wise break-up

• Dhamra: Dhamra port saw a notable rise in inventories by 17%, reaching 0.98 mnt in week 50 from 0.84 mnt in week 49.
  
  
• Vizag: Inventories at Vizag port registered an increase of 16% w-o-w, rising to 1.06 mnt in week 50 against 0.92 mnt last week.
  
  
• Tuticorin: Stocks at Tuticorin port declined by 6.1% to 1.22 mnt in week 50 from 1.30 mnt last week.
  
  
• Mangalore: Thermal coal stocks at Mangalore port rose 4.8%, climbing to 0.73 mnt in week 50 compared to 0.69 mnt last week.
  
  
• Dahej: Inventories at Dahej port rose by 9% to 0.88 mnt in week 50 from 0.81 mnt in the previous week.
  
  
• Hazira (Adani): Inventories at Hazira port declined by 6.4%, falling to 0.90 mnt in week 50 from 0.96 mnt in week 49.
  
  

Market overview

Thermal coal stocks at Indian ports continued to increase amid consistent demand and improved cargo arrivals. India's portside prices of South African thermal coal showed mixed trends w-o-w, under pressure from elevated stocks and slow trades. RB2 (5500 NAR) fell slightly by INR 50-100/tonne (t) to INR 9,400/t. However, RB3 (4800 NAR) rose by around INR 200/t to INR 7,850/t ex-Gangavaram, driven by tight stock availability and limited imports. South Africa's indexed RB3 (4800 NAR) offers decreased w-o-w to $68.50/t FOB. RB2 (5500 NAR) prices remained unchanged w-o-w at $88.50/t FOB. Domestic coal remains competitive, limiting RB3 demand.