India: South African RB2 coal offers remain firm despite drop in import prices

Amid tight coal stock and limited vessel arrivals, South African RB2 (5500 kcal/kg NAR) offers remained firm at INR 23,500/t at Gangavaram Port. While few large traders avoided floating offers, bids from sponge iron manufacturers remained weak as they adopted a wait-and-watch mode. After rising sharply over the last two weeks, RB1 (6000 kcal/kg NAR) prices fell by $19/t w-o-w to $294/t FOB as on 25 Apr’22.