India: South African RB2 coal offers stand at INR 18,000/t at Gangavaram Port

Amid the surge in South African high-CV thermal coal prices, portside offers for RB2 (5500 kcal/kg NAR) coal rose by INR 1,000/t to INR 18,000/t at Gangavaram Port today, while low-CV RB3 (4800 kcal/kg NAR) coal is being sold at INR 15,000/t. Prices rose amid elevated LNG prices in Europe. However, a major rise in portside prices is capped as demand from domestic sponge iron units remain sluggish.