India's coking coal port stocks dip by 4% w-o-w - Week 34, 2024

• JSW Steel's stocks rise while that of SAIL, Tata Steel drop
  
  

In week 34, total coking coal stocks at major Indian ports were approximately 4.6 million tonnes (mnt), a 4% decline from 4.77 mnt in week 33, according to BigMint.

Company-wise break-up

• SAIL's coking coal port stocks dropped by 5% w-o-w to 1.73 mnt in week 34 against 1.82 mnt in week 33.
  
  
• JSW Steel's coking coal stocks increased by 25% w-o-w to 0.37 mnt during week 34 compared to week 33.
  
  
• Stocks held by Tata Steel dropped by 3% w-o-w to 0.94 mnt in week 34 from 0.96 mnt in week 33.
  
  

Port-wise break-up

• At Haldia port, coking coal stocks dropped by 5% to 1.08 mnt in week 34 against 1.13 mnt in week 33.
  
  
• Paradip port's stocks inched up w-o-w to 1.34 mnt in week 34 from 1.3 mnt in the previous week.
  
  
• Dhamra port's coking coal stocks dropped by 8.2% to 0.93 mnt in week 34.
  
  

Market overview-

The BigMint India Steel Composite Index further edged down by 0.2% to 132.7 points for the week ending 23 August, 2024. On the other hand, the sub-indices comprising flats and longs were a "mixed bag" with the former inching down by 0.5% and the latter edging up by a meagre 0.1%, respectively.

Trade-level blast furnace (BF) rebar prices witnessed a downtrend w-o-w amid subdued demand across markets, marking the 11th consecutive week of fall in prices. Currently, rebar prices (12-32mm, Fe500D, and Fe550D) in the trade segment dipped by INR 300/t ($4/t) to INR 49,600/t ($591/t) exy-Mumbai, excluding 18% GST. Current prices of the hot rolled coil (HRC) (2.5-8mm, IS2062, Gr E250 Br) and cold rolled coil (CRC) (0.9mm, IS513 CR1) ex-Mumbai remained stable at INR 50,300/t and INR 57,400/t, respectively. All prices exclude 18% GST. The market for traded products experienced subdued demand.