India's coking coal port stocks largely stable w-o-w

• Stocks held by JSW, SAIL Steel fall w-o-w
  
  
• Haldia Port sees increase in stocks by 8%
  
  

Total coking coal stocks at major Indian ports in week 30 were at around 5.45 million tonnes (mnt), as per BigMint's assessment. Stocks had remained largely stable w-o-w compared to 5.47 mnt assessed in week 29.

Company-wise break-up

• JSW Steel witnessed a decrease in its coking coal stocks by 36% w-o-w during week 30 to 0.32 mnt from 0.51 mnt in week 29.
  
  
• Stocks held by Tata Steel rose 8% to 1.05 mnt in week 30 from 0.96 mnt in week 29.
  
  
• SAIL's coking coal port stocks dropped slightly by 2.4% w-o-w to 1.93 mnt against 1.98 mnt.
  
  

Port-wise break-up

• At Haldia Port coking coal stocks increased by 8% w-o-w to 1.38 mnt in week 30.
  
  
• Paradip Port's stocks dropped 5% w-o-w to 1.14 mnt in week 30 from 1.2 mnt in the previous week.
  
  
• Dhamra Port's coking coal stocks are largely stable at 1.22 mnt in week 30.
  
  

Market overview

Blast furnace (BF) rebar prices in the traders' markets fell by INR 600-1,400/t ($7-17/t) w-o-w on subdued buying amid price volatility and weak demand. Market participants in the distribution channel continued to destock inventories. In the projects segment, prices fell by INR 1,000/t ($12) w-o-w. Amid aggressive negotiations by buyers and consistent inflow of competitively-priced imported flat steel into India, BigMint's benchmark HRC prices in the domestic market fell by INR 600/t ($7) w-o-w. Cold-rolled coil (CRC) prices, too, dropped $7/t w-o-w.