India: South African RB2 coal traded at INR 9,950/t at Gangavaram Port

Amid increased portside offers for South African RB2 (5500 NAR) coal at Gangavaram, 8,000 t was sold at INR 9,950/t. A majority of sellers continue to hold offers at INR 10,500-11,000/t at Gangavaram and Vizag ports in anticipation of a further rise in prices, market participants informed CoalMint. Amid a 13% m-o-m rise in RB2 grade coal prices, vessel arrivals from South African also remain on the lower side, with only 0.22 mn t of coal scheduled to arrive till 27 Sept’21.