Domestic realizations in Q3 are expected to be about ₹3,500 per tonne higher than ₹70,400 reported in Q2, which was flattish sequentially, but up 14% y-o-y. This would be partly offset by an about $15 per tonne sequential rise in the cost of coking coal. Ongoing annual contract negotiations in Europe, amid the firm pricing environment, should reflect from Q4 or Q1FY28.
