Reuters reported that Indian cement maker Ultratech has bought a parcel of South African coal ex stocks at an Indian port for USD 170 a tonne CIF and is seeking more.

According to and Indian seller and trader, Ultratech and other Indian cement companies currently in the market for South African coal are being offered at USD 200 a tonne CIF. A trader said that "If they want the coal, they have no choice. That is the market price.”

The report said that other Indian traders also offering South African coal ex stocks to the cement and sponge iron industries said they expected to get at least USD 170 a tonne CIF, probably more.

Demand has been steady from end users during the past few months despite an absence of fresh buying of South African cargoes by Indian traders.