India's coking coal port stocks dip by 2% w-o-w - Week 33

• Port stocks of SAIL, JSW Steel fall while that of Tata Steel rise w-o-w
  
  
• Steel prices remain under pressure in both flats, longs segment
  
  

In week 33, total coking coal stocks at major Indian ports were approximately 4.77 million tonnes (mnt), a 2% decline from 4.84 mnt in week 32, according to BigMint.

Company-wise break-up

• SAIL's coking coal port stocks drop by 1.5% w-o-w to 1.82 mnt in week 33 against 1.85 mnt in week 32.
  
  
• JSW Steel's coking coal stocks drop by 14% w-o-w to 0.30 mnt during week 33 compared to week 32.
  
  
• Stocks held by Tata Steel rose by 12.3% w-o-w to 0.96 mnt in week 33 from 0.85 mnt in week 32.
  
  

Port-wise break-up

• At Haldia port, coking coal stocks drop by 1.4% to 1.13 mnt in week 33 against 1.15 mnt in week 32.
  
  
• Paradip port's stocks are largely stable w-o-w at 1.30 mnt in week 33 from 1.28 mnt in the previous week.
  
  
• Dhamra port's coking coal stocks dropped by 3% to 1.01 mnt in week 33.
  
  

Market overview - Trade-level blast furnace (BF) rebar prices have continued to decline w-o-w due to weak buying interest across markets, marking the tenth consecutive week of falling prices. Currently, rebar prices (12-32mm, Fe500D, and Fe550D) in the trade segment have decreased by INR 400/t ($5/t), bringing them to INR 49,900/t ($594/t) ex-works Mumbai, excluding 18% GST.

Similarly, flat products are experiencing persistent challenges due to prolonged low demand. Prices of hot rolled coils (HRCs, 2.5-8mm, IS2062, Gr E250 Br) ex-works Mumbai have also declined by INR 100/t to INR 50,300/t.