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Coal stocks at Indian power plants climb to new multi-year high: CEA

London — Thermal coal stocks at Indian power plants stood at 28.46 million mt Wednesday, their highest level since August 2016, according to data released Friday by the Central Electricity Authority.

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Stockpiles at power plants have risen 11.81 million mt this year and have showed little sign of slowing after comparatively low levels for most of 2018.

Stocks were up 5% week on week and 26% month on month, being enough for 17 days cover.

Stockpiles of imported thermal coal rose were little changed week on week at 928,000 mt on Wednesday, after peaking at 940,000 mt on Tuesday.

Earlier this week, the Ministry of Coal said production in the 10 months to February totaled 638.46 million mt, up 8% year on year.

Of that, the majority was produced by state-run Coal India, which accounted for 527.7 million mt, up 6.6%.

--Joseph Clarke, joseph.clarke@spglobal.com

--Edited by Dan Lalor, daniel.lalor@spglobal.com