India's coking coal port stocks dip by 1.3% in week 40, 2024

• SAIL's stocks drop 4.5%, JSW sees 7.7% increase in port stocks
  
  
• Gangavaram leads with a 32.5% rise in stocks to 0.20 mnt
  
  

Coking coal stocks at major Indian ports fell by 1.3% w-o-w, totalling around 4.09 million tonnes (mnt) in week 40 of the calendar year 2024 (CY'24), compared to 4.14 mnt in week 39, as per BigMint's data.

Company-wise Break-up

• SAIL's port stocks dropped by 4.5% w-o-w, down to 1.24 mnt from 1.30 mnt.
  
  
• JSW Steel (including Bhushan Power) recorded a 7.7% w-o-w increase, with stocks rising from 0.46 mnt to 0.50 mnt.
  
  
• Tata Steel's stocks fall, down by 3.7% w-o-w, from 0.94 mnt to 0.91 mnt.
  
  

Port-wise break-up

• Haldia Port's stocks dropped by 3.5% to 0.95 mnt w-o-w.
  
  
• Paradip Port saw a 4.2% decline to 1.23 mnt w-o-w.
  
  
• Vizag Port witnessed an 8.4% increase to 0.20 mnt w-o-w.
  
  
• Gangavaram Port showed the largest gain with a 32.5% w-o-w increase, rising to 0.20 mnt.
  
  
• Mangalore Port saw a 100% rise to 0.02 mnt, while Mundra Port dropped 50%, falling to 0.02 mnt.
  
  

Market overview

Steel prices staged a smart rally after hovering in the red zone for almost five months and then recouping slightly in the previous week. In actuality, these prices are still at near-four-year lows. But, on 4 October, 2024, the BigMint India Composite Steel Index rose a significant 2.40% to close at 134.40 points. It may be mentioned the index had passed this point in the first week of August while hurtling down to 131 levels. Importantly, the flats index rose almost 2% after an 18-week bear grip. Longs fared even better, spurting a generous 4%.