South African coal prices drop w-o-w amid weak sponge demand, outlook firms

South African coal prices drop w-o-w amid new cargo arrivals, Exw-Paradip RB2 (5,500 NAR) declined by INR 350/t w-o-w to INR 11,550/t, while RB3 (4,800 NAR) fell by INR 100/t to INR 10,400/t, pressured by shifted procurement domestically as well as new cargo arrival increased the supply at portside. However, holding old inventory also keeping offer under pressure. A rise in sponge iron prices supported sentiment.