India: South African RB2 coal sold at INR 10,800/t at Vizag

In a confirmed deal, 10,000 t of South African RB2 (5500 NAR) grade coal has been sold at INR 10,800/t at Vizag port. RB2 portside prices continue to trade at higher levels this week as domestic coal shortage has compelled sponge iron manufacturers to procure high-priced imported coal. Bulk bookings, however, continue to remain low amid rising raw material costs and sluggish demand for sponge iron.