India: South African RB2 coal prices stagnant on muted demand

South African RB2 (5500 NAR) grade coal offers remained stable at INR 8,000/t today, ex-Gangavaram, on lack of enquiries from sponge iron manufacturers. A sharp rise in South African coal prices over the past two months has deterred buyers from concluding major bookings at the onset of monsoons. RB2 offers at Vizag and Mangalore ports are heard at INR 7,900/t and INR 8,100/t respectively.