South Africa: RB1 coal prices rise by $14/t as Russia-Ukraine crisis deepens

South African RB1 (6000 NAR) grade coal prices for Mar’22 contracts have risen to $195/t FOB on 22 Feb, up $14/t d-o-d as natural gas prices surged following the EU’s sanctions on Russia. In fact, Germany has halted approval for Russia-owned Nord Stream 2 gas pipeline running under the Baltic Sea from Russia to Germany, thus deepening the energy crisis.