South African 5500 NAR (RB2) Coal, which is currently in high demand by Indian Sponge iron manufacturers, is assessed in the range of USD 76-78/MT CIF India; based on quantity and delivery period.
For an instance, a capesize vessel for September delivery is offered at USD 76/MT CIF Krishnapatnam port and around USD 77-78/MT CIF Indian East Coast.
With rising Coal prices in the domestic market, imports have been surging continuously.
Traders stock offer of South African RB-2 (52+ Fixed Carbon) is at around INR 5,350-5,400/MT ex-Mangalore port.
The Supreme Court recently declared that all Coal blocks allocated since 1993 are illegal. Next hearing is on 01 Sep, 2014 which will decide the fate of these blocks.
Currently, Indonesian 4800 GAR is offered at USD 50/MT FOB. Meanwhile, 4200 GAR is offered at around USD 49-50/MT CIF India (USD 36/MT FOB). Indonesian new export license regulation is creating fear on thermal Coal buyers. Some of them are seeking big Indonesian miners to secure their shipments; even buyers are willing to pay around USD 0.5/MT extra for safe deal.
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