In a confirmed deal, about 15,000 tonnes of South African RB2 (5500 NAR) coal has been sold at INR 5,700/t (ex-cess & GST) to a sponge iron producer in Odisha. However, market sources informed us that buyers are interested at procuring not above INR 5,600/t. The portside prices at Indian ports have fallen this week amid a drop in sponge iron prices and a fall in the API4 index.
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