Amid elevated South African RB2 (5500 kcal/kg NAR) coal prices, sponge iron manufacturers continued to procure RB3 (4800 kcal/kg NAR) coal, with 1,000 t heard sold at INR 15,000/t at Mangalore Port. RB3 CFR prices were heard at around $180-190/t for Jun’22 delivery. Offers for RB2 coal were higher at INR 18,500-19,000/t, as the uncertainty surrounding domestic steel prices desisted DRI producers from betting big on coal procurement.
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