The portside trading activity for South African RB2 (5500 NAR) grade coal has gained momentum amid limited availability of the material at Indian ports and improved sponge iron demand. In various confirmed deals of about 15,000 t, RB2 coal has been sold at an average price of INR 8,700/t ex-Gangavaram while direct importers are heard to be offering the same at higher rates of INR 9,200/t. Sponge iron units which had earlier delayed their procurement on an expectation of correction in prices, have resumed trade at these levels amid tight availability of domestic coal due to increased rains, market participants informed.
Leave a Reply