India: South African RB2 coal traded at INR 10,500/t at Gangavaram

In a confirmed deal, 4,000 t of South African RB2 (5500 NAR) coal was sold at INR 10,500/t, as per sources. Amid domestic coal shortage and fewer vessel arrivals, South African portside prices have shot up sharply in the last few days. Traders expect prices to increase further in the coming days amid elevated RB1 (6000 NAR) grade coal prices and limited availability of domestic coal.