A cargo of South African 5800 NAR grade thermal coal, which was rejected by Chinese buyers due to the presence of trace elements, has been booked by an Indian buyer at $111/t FoB China basis. While RB1 (6000 NAR) is trending at $151/t FoB, distressed sales are usually being made at lower rates because of increased moisture content. Domestic coal shortage has forced Indian buyers to book seaborne cargoes, even while compromising a bit on quality, sources informed.
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