Indian cement producers look to South Africa for coal requirement
Ambuja Cements and Ultratech Cement are currently considering South African thermal coal to meet their fuel requirements.
Ambuja is reportedly looking to secure four Panamax cargoes for December-January delivery while Ultratech Cement has requested offers for 100,000t of the product for delivery next month, said India Coal Market Watch.
Meanwhile, IHS McCloskey said coal export prices at Richards Bay, South Africa, fell to their lowest level in almost a year. Last week, FOB prices dropped 1.7% to US$1.83/t, following a 1.2% cut the previous week.
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