India: South African RB2 coal offers fall by INR 1,500/t at Gangavaram Port

Amid limited inquiries from sponge iron manufacturers, South African RB2 (5500 kcal/kg NAR) grade coal offers have eased to INR 19,000/t at Gangavaram Port as against INR 20,500/t last week. With the continued fall in sponge iron prices, the coal buying appetite of the sector has reduced drastically. Offers for RB3 (4800 kcal/kg NAR) were at INR 15,800/t today as against INR 16,500/t last week.