- China’s met coke prices rise amid restocking
- Indian mills close two deals totalling 50,000 t recently
BigMint’s premium hard coking coal (PHCC) index was assessed at $206/tonne (t) CNF Paradip, India, on 28 April 2025, up by another $3/t from $203/t on 15 April. The rise is mainly attributed to supply-side constraints in Australia and recently concluded deals.
Around 50,000 t of prime coking coal deals were concluded by India mills recently at $205-209/t CFR India. However, as per sources, Canadian coking coal is also being sold in India.
A buyer source informed BigMint: “The market remains split on price expectations, with some predicting a slight decline in the coming days and weeks.”
However, offers from the market have been received at around $215-216/t CFR India, supported by supply constraints and availability from Australia. Though, buyers remain reluctant at these levels, confident that prices will stay rangebound in the near term.
Rationale
- BigMint’s coking coal index is derived using data points, i.e., trades, offers, bids, and indicative prices. Two deals were recorded during the publishing window. Hence, this category was not considered for index computation and given a weightage of 0%.
- Nine (9) firm offers, bids, and indicative prices were heard. Out of that eight (8) were considered for price calculation and given 100% weightage.
Factors impacting imported coking coal prices
Australian coking coal prices rangebound: Australian PHCC prices remained rangebound from last week and stood at $190/t FOB Australia. As of mid-April, prices stood at $182/t FOB Australia. Availability is still a concern in the market.
China proposes 2nd hike in met coke prices: China’s metallurgical coke market saw its first price hike since October, rising by RMB 50-55/t, driven by strong molten iron output, active steel mill procurement before the May Day holiday, and low inventories. Some producers in Shanxi and Hebei have proposed a second hike. However, overall sentiment remains cautious due to falling steel and coking coal prices and fragile downstream demand. Steelmakers, citing high inventories and weak market signals, are resisting further hikes. While futures have rebounded slightly on easing US-China tensions, the spot market remains under pressure, and any further rise in coke prices post-holiday appears limited.
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