India: South African RB2 coal sold at INR 23,500/t at Haldia Port

In a confirmed deal, 7,000 t of South African RB2 (5500 kcal/kg NAR) grade coal was sold at INR 23,500/t at Haldia Port, while prices were assessed at INR 23,000/t at Gangavaram Port. Amid a sharp correction in imported coal prices, sponge iron manufacturers continued to adopt a wait-and-watch mode. With tight coal supply conditions at ports and limited vessel arrival in the upcoming days from South Africa, traders, however, expect RB2 prices to remain elevated.