India: South African RB3 coal sold at INR 17,600/t at Gangavaram

In a confirmed deal, 15,000 t of South African RB3 (4800 kcal/kg NAR) grade coal was sold at INR 17,600/t, while RB2 (5500 kcal/kg NAR) grade coal offers rose to INR 21,000/t following the rise in South African coal index. Bids from sponge iron manufacturers, however, were largely limited to RB3 coal as declining domestic steel prices weighed on their buying appetite, market participants informed.