Indian Port Thermal Coal Stocks Drop 5%
1 month ago
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Indian Port Thermal Coal Stocks Drop 5%

Summary
Thermal coal stocks at Indian ports declined 5%. Coal India Ltd achieved double-digit production growth, contrasting with mixed stock movements at ports.

Thermal coal stocks at 21 major Indian ports experienced a notable 5% week-on-week decline on August 26, 2023. During the 34th week of 2023, thermal coal stocks stood at 13.14 million tonnes showing a reduction from 13.89 Million tons in the previous week, marking a 5% decrease.

Coal Production and Stock Changes at Key Ports

  • Double-Digit Growth: Coal India Ltd (CIL), a state-run miner, reported impressive double-digit growth in coal production during July. The production surged by 11% year-on-year to reach 53.7 Million tons, surpassing the 47.3 Million tons recorded in July 2022.
  • Stock Increases And Drops: At Dhamra port, Tata International observed an impressive more-than-twofold increase in coal stocks during the reviewed week. Similarly, India Cement noted a substantial surge of over twofold in coal stocks at Krishnapatnam port. Tuna saw a significant rise in coal stocks for Ultratech Cement. On the contrary, at Krishnapatnam port, JSW Steel’s stocks experienced a substantial drop of 79% in the same week.
  • Port-Wise Stock Changes: Dhamra port recorded the steepest week-on-week rise of 18%, reaching 2.01 Million tons during week 34, compared to 1.70 Million tons in the previous week. Gangavaram port followed with a 12% rise in stocks. Thermal coal stocks remained relatively stable week-on-week at key ports such as Navlakhi (0.78 Million tons). Meanwhile, Krishnapatnam (1.15 Million tons) and Dahej (0.60 Million tons) ports observed declines of 18% and 6%, respectively. Paradip Port’s thermal coal stocks fell by 5% week-on-week to reach 1.21 Million tons during week 34, compared to 1.28 Million tons in the previous week.
  • Stock Holdings: Adani Enterprises maintained the highest stocks of 3.73 Million tons, remaining largely stable week-on-week. Adani Power’s total stocks reached 1.40 Million tons, slightly lower than the previous week’s 1.43 Million tons. Agarwal Coal’s stocks increased by 15% week-on-week to 0.80 Million tons. Tata’s total stocks declined by 7% week-on-week, reaching 0.41 Million tons.

OFB’s Insight

The fluctuations in thermal coal stocks at major Indian ports reflect the dynamic nature of the energy market. The increase in coal production by Coal India Ltd contrasts with the mixed stock movements at different ports, underscoring the varied influences on the coal industry.

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