India: Thermal coal port stocks witness slight dip w-o-w in week 40, 2024

• Adani Enterprise's stocks fall 4.5%, Agarwal Coal's down 6.0%
  
  
• Paradip Port's stocks rise 3.4%, Navlakhi Port's drop 18.3%
  
  

Non-coking coal stocks at Indian ports edged down by 1.8% to 12.67 million tonnes (mnt) in week 40 from 12.90 mnt in week 39, calendar year 2024 (CY'24), according to BigMint's data.

Company-wise break-up

• Adani Enterprise saw a decline of 4.5% w-o-w, with stocks standing at 4.01 mnt in week 40, down from 4.20 mnt in week 39.
  
  
• Agarwal Coal's stocks dipped 6.0% w-o-w to 0.87 mnt in week 40, compared to 0.93 mnt in week 39.
  
  

Port-wise break-up

• Paradip Port registered a 3.4% rise in coal stocks, standing at 1.45 mnt in week 40 compared to 1.4 mnt in week 39.
  
  
• Mundra Port, however, recorded a 9.5% decline in stocks, dropping to 1.18 mnt from 1.3 mnt in week 39.
  
  
• Navlakhi Port witnessed a sharp decline in stocks by 18.3%, standing at 0.47 mnt in week 40 compared to 0.58 mnt in week 39.
  
  
• Dhamra Port saw a 7.7% drop in stocks, with levels at 0.95 mnt compared to 1.03 mnt in the previous week.
  
  
• Mangalore Port also saw an uptrend, with stocks rising by 17.3% to 0.60 mnt from 0.51 mnt in the previous week.
  
  

Market overview

Portside prices of South African thermal coal have increased, with RB2 (5500 GAR) rising to INR 9,350/t and RB3 (4800 GAR) reaching INR 7,600/t, both up by INR 50/t ex-Gangavaram. This uptick is driven by higher sponge iron prices and positive sentiment in the steel market. In September, thermal coal imports from South Africa surged by 39% to 2.5 mnt. As the festive season approaches, Indian buyers are anticipated to increase their procurement of South African coal to meet rising steel production demands. Meanwhile, non-coking coal stocks at Indian ports have declined by 1.6%, bringing the total to 12.90 mnt.