India: South African coal prices edge up; sponge demand weak

Prices of South African thermal coal at Indian ports continued to rise w-o-w, with 5,500 NAR increasing by INR 100/t to INR 9,500/t and 4,800 NAR steady at INR 8,100/t exw-Paradip. FOB trades were heard at $84.50/mt (Feb 10-19 PMX) and $84/mt (March PMX). Offers for 5,500 NAR were at $82-83/t FOB, while 4,800 NAR was offered at $65-67/t. Sponge demand softened, with manufacturers preferring domestic coal.