South African thermal coal prices that witnessed a new high in March amid the Ukraine-Russia conflict has plunged $165/t m-o-m to $250/t on FOB basis. Buyers in Asian markets have moved to the sidelines, expecting a further fall in prices amid dull demand in China, while European demand has cooled off. Discounts for RB2 and RB3 coals for May are heard at $12/t and $25/t, respectively.
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