India: Thermal coal port stocks rise slightly w-o-w

Non-coking or thermal coal stocks at Indian ports were at 15.36 million tonnes (mnt) in week 29 against 15.24 mnt in week 28, up a mere 0.79% w-o-w, as per data compiled by BigMint.

Company-wise break-up

• Stocks held by Adani Enterprises dropped by 2% to 4.71 mnt in week 29 against 4.79 mnt in week 28.
  
  
• Agrawal Coal's port stocks also dropped 2% to 1.08 mnt in week 29 against 1.1 mnt in week 28.
  
  

Port-wise break-up

• Paradip Port stocks rose by 14.55% w-o-w to 1.58 mnt in week 29 as compared to 1.38 mnt in the previous week.
  
  
• Magdalla Port experienced a decrease of 7% to 1.44 mnt in week 29 as compared to 1.55 mnt in the previous week and Mundra Port stocks rose 6% to 1.05 mnt in week 29 as compared to 0.99 mnt in week 28.
  
  
• Krishnapatnam Port's thermal stocks were at 1.17 mnt in week 29, down 6% as compared to week 28 , while Vizag Port's stock dropped by 15% to 0.91 mnt in week 29.
  
  

Price trends, market overview

South African thermal coal prices at Indian ports have seen a drop on a weekly basis by INR 300-400/tonne (t). Prices of RB2 and RB3 at Vizag and Gangavaram were heard at INR 9,650/t and at INR 7,750/t respectively. Subdued long steel demand and falling bids from sponge players, amid price pressure, have weighed on South African portside coal.