South Africa: RB1 coal prices rise as Japan bans Russian imports

The rally in South African RB1 (6000 kcal/kg NAR) coal continues, as prices for May’22 have risen sharply by $19/t d-o-d to $305/t FOB as on 11 April. The sharp spurt came as Japan joined the USA and the EU nations in imposing fresh sanctions on Russia. While trying to reduce dependance on Russian coal, these countries are expected to increase sourcing South African coal.