India's coking coal port stocks rise slightly w-o-w

Coking coal stocks at Indian ports were recorded at 5.43 mnt in week 27, an increase of 0.93% against 5.38 mnt in week 26, as per data maintained with BigMint. This is yet another week that saw stocks rising. Subdued demand amid weak market sentiments and a drop in prices have resulted in a decline in stocks at Indian ports.

Company-wise break-up

• JSW Steel witnessed an increase in its coking coal stocks during week 27 to 0.29 mnt from 0.23 mnt in week 26.
  
  
• Stocks held by Tata Steel decreased by 6% to 1.03 mnt in week 27
  
  
• SAIL's coking coal port stocks remained largely stable at 2.13 mnt in week 27
  
  

Port-wise break-up

• At Haldia Port coking coal stocks increased by 1.05% w-o-w to 1.30 mnt in week 27 from 1.29 mnt in week 26
  
  
• Paradip Port's stocks fell by -8.62% w-o-w to 1.05 mnt this week from 1.15 mnt last week
  
  
• Dhamra Port's coking coal stocks increased by 7.03% w-o-w to 1.31 mnt from 1.22 mnt last week
  
  

Market sentiments have continued to remain subdued in the first week of July, with steel prices witnessing declines in both the flats and longs segments. A few private Indian flat steel producers reduced prices of hot rolled coils (HRCs) by around INR 1,000-1,750/t ($12-21/t) from 1 July. Decline in exports and increase in imports have weighed on domestic HRC prices. Also, Indian tier-1 mills have announced rebar list prices for early-July dispatches. Current prices are hovering at INR 55,000/t ($659/t) exy-Mumbai, down by INR 1,000-1,500/t ($12-18/t)