Indian sponge iron makers’ coal enquiries continue to emerge

摘要

Enquiries continue to emerge from Indian sponge iron makers for South African 5,500 kc NAR for October-November loading, driven by relatively firm steel demand. A West Bengal-based sponge iron maker this week procured a partial 40,000 t October cargo of Richards Bay 5,500 kc NAR material to be shipped to Gangavaram port in east India. The cargo was understood to have been bought from a trader at a discount of $9.50/t to API4 paper. On a fixed-price basis, that translates to $44.92/t FOB, basis 5,500 kc NAR, or on a delivered basis $55.17/t with freight at $10.25/t.