Tag: South Africa

Portside prices of South African RB2 (5,500 NAR) grade coal at Gangavaram Port remained elevated this week as imported  prices further extended their rally, and as large scale traders continued to hold portside offers higher at INR 19,000/t. Demand from the sponge iron manufacturers, however, eased slightly this week as they opted a wait-and- watch mode with the rising losses on production costs. Most of the sponge iron players were heard to have accumulated sufficient coal stock and awaited a correction in portside prices before procuring more, informed market participants. Margins…