India's power plants' coal stocks could fall to 24 mt
Coal stocks at India's power plants are expected to drop from 37.2 million tons to as low as 24 million tons by the end of September.
The main reasons? A weak monsoon and hotter-than-usual weather have pushed up electricity use, while the usual seasonal slowdown in coal deliveries has not helped.
India holds 147 mt of coal
Even though plant stocks are shrinking and have been on a steady slide since April 1, coal supplies are actually moving faster than before, with more daily train loads compared to last August.
Across the whole supply chain, there is still a hefty 147 million tons of coal spread between Coal India (86 mt), Singareni Collieries Company (1.58 mt), 16 mt in transit and at ports, 9.5 mt at captive mines, and about 34 mt at domestic coal-based power plants.
Stock will start growing rapidly post mid-November.