India: South African RB2 coal sold at INR 23,400/t at Visakhapatnam Port

In a confirmed deal, 4,000 t of South African RB2 (5500 kcal/kg NAR) grade coal was sold at INR 23,400/t at Visakhapatnam Port as limited availability of domestic coal prompted sponge iron manufacturers to procure imported coal at higher prices. With limited vessel arrivals from South Africa, traders preferred to hold offers while rake allotment for the non-power sector continued to remain under pressure, aggravating the supply situation, market participants informed.