Coal news and updates

Indian power plant thermal coal stocks slip to lowest level since end-March: CEA

Combined stocks of thermal coal at 100 Indian power plants slipped below 27 million mt this week to 26.5 million mt Wednesday, the lowest level since the end of March, according to data released by India’s Central Electricity Authority.

The volume was almost treble the 9.1 million mt recorded at the same time last year, but fell 12.7% on the month to the lowest level since March 31, the data showed.

Coal stocks reached an all-time high of 30.6 million mt on August 28, but have been trending lower almost continuously since.

Indian power plants had enough supply for 20 days of coal burn Wednesday, up from six a year ago, but down from 26 on August 16.

CEA’s data showed there were eight Indian power plants with less than a week’s supply of coal Wednesday, down from 53 at the same time last year and three a month ago.

Of these, three power plants had inventories lasting less than four days of consumption, up from one a month ago, but down from 31 at the same week of 2014.

The data also showed that, of the current coal stocks, 2.49 million mt was imported coal, almost treble the 848,000 mt of imported coal recorded on September 16, 2014, but 3.3% lower on the month.

Imported coal stocks at the power plants were last below 2.5 million mt in late February.

Falling prices have led to Indian buyers refraining from purchasing imported thermal coal in case prices slip further, while credit issues have also hindered demand, according to market sources.

source: http://www.hellenicshippingnews.com