The South African RB1 (NAR 6000 kcal/kg) coal index for Apr’22 plunged $104/t w-o-w to $221/t FOB on 18 March. The March index averaged $350/t on FOB basis. However, the vessels booked as part of the April index will arrive in May. The sharp fall resulted from bearish sentiments due to the fresh Covid upsurge and lockdowns in China, fall in European buying sentiments coupled with the decline in other energy product prices.
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