India: South African RB2 coal trade subdued at Gangavaram Port

Portside trade of South African RB2 (5,500 NAR) grade coal remained largely muted today as offers stayed firm at INR 8,000/t, ex-Gangavaram. Sponge iron manufacturers are largely keeping on the sidelines, opting for cheaper domestic coal instead. Lack of trading for imported coal has resulted in a rise in portside thermal coal stocks at Gangavaram. Current stocks were assessed at 2.7 mn t during the 20-24 Jun’21 period, up 14% w-o-w.