South Africa: Russia-Ukraine conflict drives RB1 coal prices higher by $38/t in a day

After falling sharply by $18/t on 25 Feb’22, South African RB1 (6000 NAR) grade coal prices rose again by a whopping $38/t d-o-d to $262/t FOB on 28 Feb’22, as the geopolitical tension between Russia and Ukraine continued to intensify. The ongoing conflict is seen limiting coal and gas supplies from Russia, thereby pushing European power utilities to seek South African coal cargoes.