The South African thermal coal market at Indian ports was subdued this week amid weak demand, with no notable shifts in sentiment. RB2 (5500 NAR) remained firm w-o-w at INR 8,450/t ex-Gangavaram; RB3 (4800 NAR) held steady at INR 7,200/t. Although RB3 stocks remained tight, sluggish demand led to continued market inertia. Portside thermal coal inventories inched up by 0.3% w-o-w to 12.37 mnt in week 16, CY’25.
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