India: South African RB2 coal sold at INR 10,400/t at Gangavaram

Amidst lower enquires from sponge iron manufacturers, 1,000 t of South African RB2 (5500 NAR) coal was sold at INR 10,400/t at Gangavaram port, while another 1,500 t of RB3 (4800 NAR) grade coal was sold at INR 8,700/t. Bulk deals continue to remain muted as sponge iron manufacturers are waiting for portside prices to correct lower before concluding purchases, market participants informed.