India: South African RB2 coal prices touch INR 11,000-mark in Gangavaram

In a confirmed deal, about 10,000 t of South African RB2 (5500 NAR) grade coal was booked at INR 11,000/t in Gangavaram. Portside prices of South African coal have been on an upward trajectory since the last two months due to higher imported coal prices and lower availability of the material at ports. Traders expect prices to rise further amid demand revival in sponge iron sector.