Indonesian 6000 GCV coal price up by INR 500/t w-o-w

In a confirmed deal, 10,000 t of Indonesian coal (6000 GAR) has been sold at INR 7,200/t (including GST and cess) to Raipur rolling mills. We expect Indonesian coal prices to rise further and trade at INR 8,000/t soon amid increased demand from China, as it recently announced 20 mn t addition to the import quotas.