India: Thermal coal port stocks rise for second consecutive week
...
- Stocks rise by 3% w-o-w in week 48
- Stocks at Navlakhi up 13% w-o-w
Thermal or non-coking coal stocks at Indian ports increased by 3% to 12.74 million tonnes (mnt) in week 48 from 12.36 mnt in week 47, according to BigMint's data. This was the second week in a row of increase.
Company-wise break-up
- Adani Enterprise: Inventories fell 7.4% to 3.41 mnt in the week under review against 3.68 mnt in the previous week.
- Agrawal Coal: Stocks increased significantly by 14.2% to 1.15 mnt (1.01 mnt).
Port-wise break-up
- Paradip: Stocks edged up 5.8% to 1.56 mnt in week 48 (from 1.48 mnt in the previous week).
- Dhamra: Inventories climbed 7.8% to 0.90 mnt (from 0.84 mnt in week 47).
- Vizag: A 20.9% rise was observed at 0.86 mnt (from 0.71 mnt in the preceding week).
- Tuticorin: Inventories rose 9.7% to 1.28 mnt (to 1.16 mnt).
- Magdalla: Inventories marginally declined by 2.2% to 1.24 mnt (1.27 mnt).
- Navlakhi: A significant 12.5% increase was recorded at 0.88 mnt (0.78 mnt).
- Hazira (Adani): Inventories dropped 5.9% to 1.01 mnt (1.07 mnt).
Market overview
BigMint's latest assessment shows that portside prices of South African thermal coal edged down w-o-w. RB2 (5500 NAR) was assessed at INR 9,500 per tonne (t). Buyers preferred being on the sidelines on expectation of a price drop amidst decline in sponge iron offers.