Portside trading volume of South African coal remains weak at Gangavaram port

Portside prices for S.African RB2 (5500 NAR) coal are assessed at INR 5,700/t ex-Gangavaram (ex. of cess and GST), as the week started with muted demand for coal available at the ports. The buyers from the sponge iron sector are closing following the API4 index and are waiting to see what direction the market takes after the RBCT port opens up.