Portside trading activities of South African RB2 (5500 kcal/kg NAR) grade coal came to a halt at Indian ports as a sharp hike in export duty on steel has dampened the buying appetite of sponge iron manufacturers. Declining imported coal prices also dragged down portside RB2 offers to INR 21,000/t. However, inquiries from sponge iron players remained far-fetched.
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