According to some importers, softening demand for coal has left over 12 million tonne of thermal coal idle at India's ports, around 7-8 million of which is unsold.
The tonnage of unsold coal already in India makes it unlikely that Indian buyers will be returning to the spot market for substantial fresh purchases anytime soon and helps explain why Indian buyers have been largely dormant for months.
A few importers pegged the stockpiles at 10-12 million tonne and added that they are struggling to sell this coal in the teeth of slow industrial and power generation demand.