India: South African coal prices jump; sponge prices rise
Prices of South African thermal coal at Indian ports rose sharply w-o-w. Exw-Paradip 5,500 NAR increased by INR 300/t to INR 9,800/t, while 4,800 NAR surged by INR 350/t to INR 8,450/t. On the export front, RBCT 5,500 NAR FOB was heard at around $86/t, with a deal concluded at similar levels recently. Sponge iron prices in India also increased, lending support to portside coal prices.