India: South African RB3 coal sold at INR 17,000/t at Gangavaram Port

In a confirmed deal, 2,000 t of South African RB3 (4800 kcal/kg NAR) grade coal was sold at INR 17,000/t on 2 Apr’22, down INR 500/t w-o-w. Limited enquiries from sponge iron manufacturers continued to keep portside RB2 (5500 kcal/kg NAR) coal offers under pressure at INR 19,500/t at Gangavaram Port. With declining international prices, sponge iron manufacturers expect portside coal prices to fall further.