India: South African RB3 coal sold at INR 19,500/t at Mangalore Port

In a confirmed deal, 12,000 t of South African RB3 (4800 kcal/kg NAR) coal was sold at INR 19,500/t at Mangalore Port. RB2 offers remained higher at INR 23,000/t at Gangavaram Port as a sharp rise in imported coal prices and limited vessel arrivals prompted traders to raise offers. Amid tight supply, several sponge iron manufacturers resorted to advance bookings of RB2 coal on an index-linked basis, sources informed.