Coal news and updates

Indian thermal coal stocks edge down, remain three times year-ago levels: CEA

Combined stocks of thermal coal at 100 Indian power plants were at 30.23 million mt Wednesday, more than triple the 9.47 million mt recorded at the same time last year, but slipping 0.5% month on month, according to data released by India's Central Electricity Authority Friday.

In the past week, stock levels have been inching away from the record high of 30.59 reached at the beginning of July, despite approaching the level in the middle of last week.

The Indian power plants had enough supply for 24 days of coal burn Wednesday, down from 25 a month ago, but rising from only six a year ago.

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

Of these, none had inventories lasting less than four days of consumption, slipping from two a month ago and 26 at the same time in 2014.

The data also showed that, of the current coal stocks, 2.68 million mt was imported coal, which remained below the 3 million mt mark for the sixth week.

The volume of imported coal stocks was more than double the 1.13 million mt of imported coal recorded on August 12, 2014. However, the volume slipped 5.3% on the month.

Despite the monsoon season coming to an end in September, India-based sources are skeptical whether there will be any increase in buying of importer thermal coal, with high stocks at ports, while the credit crunch and lower output from manufacturing industries has also impacted buying activities.

source: http://www.platts.com