Coal India produced 49.8 million tons of coal in October. This is 9.1 million tons (22%) more than was produced in September and up year-on-year by 3 million tons (6%).
Offtake totaled 56.7 million tons, which is 8.4 million tons (17%) more than was seen in September and up year-on-year by 6.2 million tons (12%). Production and offtake last month each came in at their highest levels since March.
The increases in Coal India’s production and offtake have been much needed and have helped India’s power plant stockpiles finally increase. Still, though, power plant stockpiles are down year-on-year by 22.3 million tons (-65%). India’s power plant coal stockpiles ended last week at approximately 11.9 million tons. This is 2.1 million tons (21%) more than was stockpiled at the end of the previous week but down year-on-year by 22.3 million tons (-65%). They can meet 7 days of demand, while the normal requirement for this time of year is to meet 21 days of demand.
Among all of the nation’s power plants, 16 power plants can now meet only 3 days of demand, 8 can meet only 2 days of demand, 7 can meet only 1 day of demand, and 3 are not able to meet any demand. With India's power plant stockpiles still remaining quite low, the nation's near-term coal import prospects remain encouraging.