South African miners offering hefty discounts on thermal coal amid weak demand

Amid weak global buying interest, miners in South Africa have been offering $50/t discount for mid-CV 5500 kcal/kg NAR grade coal, while discounts for low-CV 4800 kcal/kg NAR are down further by $100/t for Aug’22 shipments. Higher discounts are being offered as demand from India, a key buyer of South African coal, has turned sluggish while European buyers have also taken a backseat.