India's coking coal port stocks drop slightly in week 28, 2024

• JSW Steel witnesses an increase in coking coal stocks by 9.10%
  
  
• Indian steel prices continue to remain under pressure w-o-w
  
  

Total coking coal stock at major Indian ports in week 28 under review was around 5.34 mnt, BigMint assessed that by the end of week, coking coal stock had decreased by 1.60% against week 27.

Company-wise break-up

• JSW Steel witnessed an increase in its coking coal stocks by 9.10% during week 28 to 0.32 mnt from 0.29 mnt in week 27.
  
  
• Stocks held by Tata Steel decreased by -2.40% to 1.01 mnt in week 28 from 1.03 mnt in week 27.
  
  
• SAIL's coking coal port stocks decreased by -7.24% at 1.98 mnt in week 28 from 2.13 mnt in week 27.
  
  

Port-wise break-up

• At Haldia Port coking coal stocks are largely stable at 1.30 mnt in week 28.
  
  
• Paradip Port's stocks increased by 11.33% w-o-w to 1.17 mnt in week 28 from 1.05 mnt in week 27.
  
  
• Dhamra Port's coking coal stocks increased by 4.58% w-o-w to 1.37 mnt in week 28 from 1.31 mnt in week 27.
  
  

Steel prices fall w-o-w: Trade-level blast furnace (BF) rebar prices continued to downtrend last week. Prices fell further by INR 800-1,200/t ($10-14/t) during the week amid dull buying activity in the domestic market. Buyers have become cautious in procuring material amid the continuous fall in prices. In the flats segment, hot-rolled coil (HRC) prices overall declined by INR 200-800/t ($2-10/t) across regions to INR 52,900-55,500/t ($633-664/t). Subdued steel demand has impacted fresh bookings for coking coal last week, sources informed.