Amid a sharp rise in South African thermal coal index, portside offers for RB2 (5500 NAR) coal have risen to INR 15,500/t at Gangavaram Port for Feb’22 arriving cargoes. Despite rising enquiries from sponge iron manufacturers, limited ready stock at ports and already booked cargoes compelled traders to hold offers as they expect prices to rise further in the upcoming days, market participants informed.
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