Amid the rising trajectory of South African thermal coal prices over the last two weeks, sponge iron manufacturers have again adopted a wait-and-watch mode, pinning hopes on improving domestic coal supplies. Traders, on the other hand, continue to hold RB2 (5500 NAR) portside offers higher at INR 19,000/t at Gangavaram on expectation that imported coal prices may remain higher in the near-term.
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