Gujarat based, Varrsana Ispat, a leading steel manufacturer and coal trader, is importing Indonesian origin 3600 Kcal/kg GAR coal in a 73,000 MT Panamax vessel, noted from the market sources. Varrsana Ispat is bringing part material (~20,000 MT) for their captive use and rest (~53,000 MT) for stock and sales to others from Kandla port. Vessels estimated time of arrival at Kandla port is around 13 Sept, 2013. Sources have informed that same grade Indonesian coal has been traded at USD 46-48/MT CFR basis.
Varrsana Ispat is a regular importer of Indonesia and South Africa origin coal and they import around 0.8-0.10 MnT annually for self consumption and for sale in market.
On a slight appreciation of rupees, traders are expecting to recover more and may book quantities in next week. However Industry is expecting good volume to be traded in September and October.
Other Indonesian origin coal grade like 4200 GAR is trading at USD 40-42/MT FOB and 5400 GAR trading at USD 62-64/MT FOB basis.
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