In a confirmed deal, 30,000 t of South African RB3 (4800 kcal/kg NAR) coal was sold at $150/t CIF Ennore Port for early Jul’22 arrival. Amid weak domestic steel prices, Indian sponge iron manufacturers are procuring limited cargoes. While offers for RB2 (5500 kcal/kg NAR) coal are higher at $230/t CIF, demand for low-CV RB3 coal has remained stable. Traders expect prices to ease further amid sluggish demand from sponge iron producers.
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