India’s coal market witnessed mixed trends, with Indonesian non-coking coal prices inching up due to exchange rate fluctuations, despite weak demand. South African coal prices remained under pressure, but currency depreciation provided some support to imports. Domestic thermal coal prices stayed stable, with minor increases in select grades before upcoming auctions.
Met coke prices firmed up due to active trades and tight supply, while imported stocks at ports declined, keeping market sentiment positive.
In the pet coke segment, refiners raised prices sharply, citing supply constraints and rising import costs, with demand from cement manufacturers holding steady. Meanwhile, vessel freight rates rose on higher bunker prices and stable market sentiment, despite limited fresh cargo activity.
Indonesian non-coking coal prices at Indian ports inch up
Indonesian non-coking coal prices at Indian ports saw a slight w-o-w rise due to exchange rate fluctuations, despite weak demand. Port inventories fell 2% to 13.34 mnt in week five of 2025. At Navlakhi, 3400 GAR coal rose by INR 50/t to INR 4,500/t, while Kandla’s 4200 GAR remained at INR 5,850/t. Global prices declined, with 5800 GAR down by $0.41/t to $86.42/t. Although Indian port prices have edged up, overall market uncertainty and softening global rates may limit further increases.
Portside South African coal prices steady amid weak demand
Portside South African thermal coal prices in India remained under pressure due to weak demand and limited trade. RB2 (5500 NAR) prices fell by INR 50/t to INR 8,650/t, while RB3 (4800 NAR) stayed at INR 7,250/t at Gangavaram Port. Port inventories rose 2.4% to 13.66 mnt in week 5. South Africa’s RB2 export price increased by $1/t to $82/t FOB. Meanwhile, domestic 5000 GCV coal rose by INR 50/t to INR 5,950/t exw-Bilaspur. Despite weak buying, INR depreciation to 87.5 against USD may support import offers, preventing sharp price drops in the near term.
Domestic thermal coal prices stable, market awaits SECL auction outcome
Domestic thermal coal prices in India remained steady this week. 4500 GCV coal was assessed at INR 5,000/t, while 5000 GCV increased by INR 50/t to INR 5,950/t, both exw-Bilaspur. Prices may stay unchanged or soften after the upcoming SECL auction, depending on demand trends.
SECL to auction over 1 mnt of non-coking coal on 12 Feb’25
South Eastern Coalfields Ltd (SECL) is set to auction 1.106 mnt of non-coking coal of grades G6 to G16, along with a limited quantity of SC-II (steel grade-II, coking coal). The auction is scheduled for 12 February. Market assessments indicate stable prices for 4,500 GCV and 5,000 GCV coal. However, if SECL continues to release substantial volumes, prices may face downward pressure.
Indian met coke prices rise on active trades, tight supply
Domestic met coke prices in India remained firm this week due to active trades and limited supply. BigMint assessed 25-90 mm BF-grade coke at INR 34,000/t exw-Jajpur and INR 31,500/t exw-Gandhidham, both rising by INR 250-500/t w-o-w. Trades in eastern India were concluded at INR 34,000-34,500/t exw. Market sentiment remains positive as imported coke stocks at ports decline and fresh bookings remain restricted. Meanwhile, China is set to announce an eighth coke price cut by 7 February, following a RMB 50-55/t reduction in late January due to weak demand and ample supply.
India: Imported pet coke prices steady
Imported pet coke prices in India remained stable w-o-w at $110-111/t CFR for the west coast and $113-114/t CFR for the east coast. Demand from cement manufacturers continued to be steady, supporting price stability. Meanwhile, domestic refiners, including Reliance Industries Ltd (RIL), raised pet coke prices due to tight supply, adding upward pressure on overall market sentiment.
Indian refineries raise pet coke prices in Feb’25
Indian refineries increased pet coke prices in February due to supply constraints and higher import costs. Reliance Industries Ltd (RIL) raised prices by INR 902/t to INR 13,450/t but limited market sales. CPCL increased rates by INR 630/t to INR 13,630/t, while BPCL’s Bina refinery raised rail supply prices by INR 418/t to INR 13,291/t. Kochi refinery hiked rates by INR 625/t to INR 10,946/t. MRPL adjusted prices to INR 10,590/t for road and INR 10,290/t for rail. Nayara Energy raised prices by INR 898/t to INR 13,850/t, keeping offers near RIL’s benchmark.
India: Coal freight rates rise w-o-w
Coal freight rates in India increased this week due to higher bunker prices and stable market sentiment. The Baltic Panamax Index rose 26 points to 800 on 3 February. Freight from Australia to India increased by $1/t, with Hay Point to Paradip at $12.4/t. South Africa-India rates rose by $0.2/t to $10.5/t, while Indonesia-India freights climbed by $0.6/t to $8.9/t, driven by strong demand from Indian industries.
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