India: South African RB3 coal sold at INR 13,800/t at Vizag Port

In a confirmed deal, 5,000 t of South African RB3 (4800 kcal/kg NAR) grade coal was sold at INR 13,800/t at Vizag Port, while no major deals of RB2 (5500 kcal/kg NAR) were reported. Portside RB2 offers were in the range of INR 16,000-17,800/t. Amid weak domestic sentiment, sponge iron producers continued to limit their procurement to RB3 grade and awaited further price correction before making any major bookings, market participants informed.