China: Russia-origin 4700 GAR coal booked at $120/t CFR

In a confirmed deal, 4700 kcal/kg NAR Russian coal was booked at $120/t CFR China. These prices are cheaper by $40/t against Indonesian 4800 kcal/kg NAR prices of $160/t CFR China. As the major western countries have imposed sanctions on Russia, miners in the country are offering heavy discounts to Chinese traders. With elevated coal prices in Indonesia and South Africa, Russia coal continues to remain at competitive levels.