India: South African RB3 coal prices rise to INR 16,000/t at Vizag Port

South African RB3 (4800 kcal/kg NAR) grade coal prices have reached INR 16,000/t at Vizag Port amid strong demand for low-CV S. African coal by sponge iron manufacturers. With the sharp decline in imported prices from the March peak, buyers have started raising their procurement volumes for South African coal. Procurement of RB2 (5500 kcal/kg NAR), however, remained weak as offers remain firm at INR 18,000/t.