Portside prices for RB2 grade coal at Gangavaram is assessed at INR 5,950/t (exclusive of cess and GST) with no major deals concluded. The falling index, moderate stock at Gangavaram port, increased availability of domestic coal and reducing sponge iron prices have made the buyers and sellers both to adopt a wait-and-watch approach. The buyers are showing interest to procure at INR 5,700/t, but we gathered that the sellers are not ready to sell below INR 5,900/t.
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