Coal news and updates

Indian power plant thermal coal stocks near 6-month low: CEA

Combined stocks of thermal coal at 100 Indian power plants stood at 26.15 million mt Wednesday, almost tripling from 8.87 million mt at the same time last year, but at the lowest level since March 31, according to data released by India's Central Electricity Authority Friday.

The volume was 14.6% lower than the all-time high of 30.63 million mt reached on August 23, the data showed.

The Indian power plants had enough supply for 22 days of coal burn Wednesday, up from six a year ago, but down from 26 a month ago.

CEA's data showed that the number of Indian power plants with less than a week's supply of coal was nine Wednesday, down from 47 at the same time last year and three a month ago.

Of these, five power plants had inventories lasting less than four days of consumption, down from 35 a year ago, but up from none a month ago.

The data also showed that, of the current coal stocks, 2.29 million mt was imported coal, almost triple the 856,000 mt of imported coal recorded on September 23 last year, but 12.1% lower on the month and at the lowest level since February 17.

There have been inquiries for imported thermal coal in the Indian market, but slipping spot prices have resulted in buyers hesitating to purchase cargoes in case prices fall further, sources said.

source: http://www.platts.com