Amid scant enquiries from sponge iron manufacturers and incapacity of traders to hold stocks long term, 4,000 tonnes (t) of South African RB2 (5,500 NAR) grade coal was heard to have been sold at INR 7,850/t ex-Gangavaram on 7 Jul’21. Offers from direct importers remained firm at INR 8,400-8,500/t ex-Gangavaram and Vizag. Demand from the sponge iron sector continued to remain dull for the third week amid increased raw material prices which compelled them to either reduce capacity utilisation or opt for blending of domestic coal.
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