South African thermal coal prices at Indian ports declined again this week, as demand remained subdued amid decent inventory levels and no new project activity. RB2 (5500 NAR) at Gangavaram dropped INR 100/t w-o-w to INR 7,700/t, while RB3 (4800 NAR) slipped INR 50/t to INR 6,800/t. With the monsoon approaching, market participants expect further corrections in prices for August deliveries.
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