India: South African RB3 coal being sold at INR 19,400/t at Mangalore Port

In a confirmed deal, 1,000 t of South African RB3 (4800 kcal/kg NAR) grade coal was sold at INR 19,400/t at Mangalore Port, largely unchanged from last week amid limited vessel arrival from the country. With limited coal supply, several sponge iron manufacturers resorted to making advance bookings of RB2 and RB3 coal on index-linked basis. The discount for RB3 coal was assessed at $29/t.