South Africa: 6000 NAR coal prices plunge by $34/t amid fall in gas prices

South African high-CV RB1 (6000 kcal/kg NAR) grade coal prices fell to $298/t FOB basis, down by $34/t w-o-w amid drop in LNG prices. The fall in gas prices has come as the European Union has planned to impose a cap on Russian LNG prices amid rising energy bills in Europe and to curb its excess dependency on Russian supplies.