India: South African RB2 coal sold at INR 10,700/t at Gangavaram

In a confirmed deal, 2,000 t of South African RB2 (5500 NAR) coal was sold at INR 10,700/t at Gangavaram port, while another 2,000 t of was booked at INR 11,000 at Krishnapatnam port. The recent rise in imported coal prices has pushed portside RB2 prices higher by INR 500/t, w-o-w. Bulk demand from domestic sponge iron units, however, remains muted.