South African RB2 (5,500 NAR) grade coal is gaining acceptance at increased rates of INR 8,600/t in southern belt of India due to limited availability of domestic coal in that region, as per sources. Portside trade in the country’s eastern ports, however, continue to remain under pressure amid ample supply of domestic coal for the sponge iron clusters around the central and eastern regions of India. While a few sellers are quoting RB2 at INR 8,600/t, offers even at INR 8,200/t ex-Gangavaram are not eliciting much interest, informed market participants.
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