India's coal oversupply to persist, despite recent drawdown in power plant stocks

Thermal power plants across India have achieved significant drawdown on existing coal stocks this month, but this is not expected to be a sustained emerging trend. According to government data, total coal stocks carried by all thermal power plants in the country were pegged at 24-million tonnes as at February 11, compared with just over 36-million tonnes as at February 11, 2016.