South Africa: Non-coking coal exports dip in Jul’25 as India, Pakistan reduce intakes

• India’s imports fall 28% m-o-m to 2-year low
• Portside prices tick up on rising freights, tight supply

South Africa’s non-coking coal exports declined by 8% m-o-m to 4.25 million tonnes (mnt) in July 2025 from 4.64 mnt in June. The drop was led by reduced shipments to major Asian destinations including India and Pakistan.

India’s intake lowest in 2 years

India’s imports fell 28% m-o-m and around 15% y-o-y in July 2025. Weak buying interest from sponge iron producers amid monsoon followed by high landed costs and sufficient availability of domestic coal weighed on import cargos. Pakistan’s imports also dropped by 42% m-o-m to 0.50 mnt from 0.86 mnt in June.

Demand narrows across major markets

The Netherlands cut imports to 0.18 mnt from 0.33 mnt, while Morocco’s intake fell to 0.15 mnt from 0.26 mnt. Imports by Taiwan and South Korea remained nearly stable but marginally declined, while Japanese volumes fell slightly to 0.08 mnt.

Demand emerges from UAE, Vietnam

UAE reappeared on the buyers’ list with 0.37 mnt in July, while Vietnam also recorded fresh intake of 0.16 mnt. China  remained absent this month after receiving 0.15 mnt in June.

Market overview

In July, South African thermal coal prices remained largely stable m-o-m. At Gangavaram, RB2 averaged price INR 7,700/tonne (t) exw – unchanged from June – while RB3 edged down by INR 50/t to INR 6,700/t. On a CNF basis, RB2 averaged $83.35/t in July, up slightly from $81/t in June, reflecting freight-led firmness despite sluggish buying interest.

On w-o-w basis South African thermal coal offers surged at Indian ports this week amid rising freights last week and tight supply. RB2 was assessed at INR 8,100/t and RB3 at INR 7,050/t exw-Gangavaram, up INR 300/t and INR 250/t w-o-w, driven by Panamax freight rise and low August availability. Sponge buyers started booking for September amid a firm price outlook.