India: Thermal coal port stocks rise over 4% w-o-w in week 47, 2024

• Rising inventories pull down prices
  
  
• Vizag Port's stocks surge 76% w-o-w
  
  

Thermal or non-coking coal stocks at Indian ports increased by 4.3% to 12.36 million tonnes (mnt) in week 47 from 11.85 mnt in week 46, as per BigMint's data.

Company-wise breakdown

• Adani Enterprise: Inventories rose 2.7% to 3.68 mnt in week 47 from 3.59 mnt in week 46.
  
  
• Agarwal Coal: Stocks increased by 5.8% to 1.01 mnt in week 47 from 0.96 mnt in the previous week.
  
  

Port-wise breakdown

• Paradip: Stocks edged up 3.7% to 1.48 mnt in week 47 from 1.42 mnt in week 46.
  
  
• Vizag: A significant 76.4% rise was observed, to 0.71 mnt in week 47 from 0.40 mnt in week 46.
  
  
• Dhamra: Inventories climbed up 15.2% to 0.84 mnt in week 47 from 0.73 mnt in week 46.
  
  
• Krishnapatnam: Stocks fell 4.3% to 0.63 mnt in week 47 from 0.66 mnt in week 46.
  
  
• Tuticorin: Inventories declined 14.3% to 1.16 mnt in week 47 from 1.36 mnt in week 46.
  
  

Market overview

BigMint's latest assessment shows that portside prices of South African thermal coal declined slightly w-o-w amid the rise in inventories. RB2 (5500 NAR) was assessed at INR 9,500/tonne (t), down INR 50/t. Buyers preferred to stay on the sidelines, in expectation of a further price drop amid a decline in sponge iron offers.