South African RB1 (6000 kcal/kg NAR) coal prices continued to gain momentum as prices for Apr’22 contracts rose by $25/t d-o-d to $308/t FOB on 12 April, while prices for May contracts rose by $22/t d-o-d to $310/t. The rally in prices comes in the backdrop of increased demand from Europe and Japan which have recently imposed sanctions on Russia. Meanwhile, coal stocks at RBCT Port continues to remain under pressure.
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