India: South African RB2 coal offers at INR 21,500/t at Gangavaram Port

Amid declining imported South African coal prices, portside offers for RB2 (5,500 kcal/kg NAR) were assessed at INR 21,500/t at Gangavaram Port. However, bids from sponge iron manufacturers remained few and far between as they awaited further correction in prices before making any major bookings. Amid limited domestic coal availability, several Raipur-based units worked under minimum capacity, while a few eastern India-based units announced 10-15 days of shutdown, market participants informed.