Coal news and updates

Indian power plant coal stocks fall to new over 6-month low: CEA

Combined stocks of thermal coal at 100 Indian power plants were at 25.52 million mt Tuesday, more than triple the 7.78 million mt recorded at the same time last year, but at the lowest since March 26, according to data released by India's Central Electricity Authority Friday.

The volume was 9.3% lower than a month earlier and also down from the record high of 30.63 million mt hit on August 23, the data showed.

The Indian power plants had enough supply for 22 days of coal burn Tuesday, compared to five a year earlier and 21 a month earlier.

CEA's data showed that the number of Indian power plants with less than a week's supply of coal was eight Tuesday, down from 59 at the same time last year, but up from four a month earlier.

Of these, four power plants had inventories lasting less than four days of consumption, down from 38 a year earlier, but up from two a month earlier.

The data also showed that, of the current coal stocks, 2.06 million mt was imported coal, more than double the 824,000 mt of imported coal recorded on October 6 last year, but 21.2% lower on the month and at the lowest since February 13.

Sources in the Indian market have said that post-monsoon demand has been disappointing with the slow economy and credit issues hindering buying interest for imported thermal coal.

source: http://www.platts.com