- Competitive non-Aussie offers exert pressure
- Met coke prices hit 5-yr low in eastern India
BigMint’s premium hard coking coal (PHCC) index was assessed at $190/tonne (t) CNF Paradip, India, on 14 June 2025, down by $22/t against 31 May. The index has fallen to nearly a three-month low amid bearish market sentiment.
“Demand has been quite weak in the Indian market lately, with most buyers either staying away or showing a preference for Canadian premium mid-vol coals. We have also seen some selling interest for Canadian Standard grades, with offers hovering around $185-190/t CFR India for smaller parcels,” a buyer said.
Rationale
BigMint’s coking coal index is derived using data points, i.e., trades, offers, bids, and indicative prices. No deals were recorded during the publishing window. Hence, this category was not considered for index computation and given a weightage of 0%.
Eleven (11) firm offers, bids, and indicative prices were heard. Out of these, nine (09) were considered for price calculation and given 100% weightage.
Factors impacting imported coking coal prices
1. Met coke prices in eastern India hit 5-year low: Indian metallurgical (met) coke prices plunged this week, with the 25-90 mm blast furnace (BF) grade down by INR 1,300/t ($15/t) to INR 29,500/t ($342/t) ex-Jajpur, according to BigMint’s assessments on 12 June.
This marks a five-year low in eastern India, last seen in August 2021. Falling steel prices led steelmakers to reduce coke procurement, with inquiries and transactions dropping. Buyers were hesitant due to uncertainty over future steel production and sales, opting to hold off on restocking until clearer demand signals emerged.
2. China sees 3rd straight round of met coke price cuts: China’s met coke market faced similar challenges, with prices cut by RMB 150-185/t ($21-26) since mid-May due to weak steel demand and high inventories.
Steel mills in Hebei and Tianjin reduced purchase values by RMB 50-75/t, the third consecutive round of met coke price cuts, driven by high inventories with mills and an expected fall in steel demand.
India’s coking coal imports fall m-o-m in May
India’s coking coal imports stood at 4.9 million tonnes (mnt) in May 2025, down 6% from 5.2 mnt in April, as per BigMint data. The decline is largely attributed to lower shipments from Australia and the US, despite improved inflows from Russia and Indonesia.
Australia remained the top exporter with 1.9 mnt in May, down from 3.0 mnt in April. Russian volumes rose sharply to 1.5 mnt from 0.7 mnt, and the country regained the second spot among exporters.
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