India: South African RB3 coal sold at INR 15,700/t at Gangavaram Port

In a confirmed deal, 1,000 t of South African RB3 (4800 kcal/kg NAR) grade coal was sold at INR 15,700/t at Gangavaram Port, while offers for RB2 (5500 kcal/kg NAR) were at INR 19,000/t. With easing coal prices in the last two weeks, sponge iron manufacturers have resorted to booking small parcel of coal. However, overall procurement demand remains weak, market participants informed.