India: South African RB2 coal portside prices remain elevated

Amid a sharp rise in South African coal prices and increased portside offers for RB2 (5500 NAR) coal at INR 10,500/t at Gangavaram port, a few mid-sized traders sold 4,000 t of old RB2 stock at INR 9,500/t today. Depleting coal stocks at southern ports also kept portside prices higher with 5,000 t of RB2 coal being sold at INR 10,200/t ex-Mangalore, while 10,000 t was sold at INR 9,800/t ex-Krishnapatnam. Imported coal stocks at ports in south India are expected to remain under pressure with no vessel arrivals from South Africa till 17 Sept’21, CoalMint data shows.