Eastern India’s met coke prices climb to 6-month high on tight supplies, rising coking coal tags

• Coking coal up $3/t on higher Chinese deal values
• Indian pig iron prices firm up in recent auctions

India’s metallurgical coke (met coke) market witnessed mixed momentum during the week ending 6 November 2025. While eastern India saw mild price gains due to tight supply and a hike in Australian coking coal tags, western markets remained largely unchanged amid steady demand and adequate supply.

In the east, BF-grade (25-90 mm) met coke prices were assessed at INR 31,000/t ex-Jajpur, a rise of INR 500/t w-o-w. Notably, met coke prices in eastern India have climbed to nearly a 6-month high, levels last seen in end May 2025. In contrast, western India’s ex-works Gandhidham prices stayed firm at INR 30,000/t, while foundry-grade met coke was stable at INR 35,500/t ex-Rajkot.

Factors behind price hike

• Trading activity improves: The eastern market witnessed improved trading activity, supporting the upward movement. Two significant deals were heard during the week — a market player booked 40,000 t at INR 31,000/t exw, and another bought 15,000 t at INR 31,500/t exw. These deals influenced prices. Meanwhile, in the west, market sentiment remained neutral, with buyers and sellers showing limited appetite for fresh negotiations.
• Coking coal price rise: Meanwhile, Australian premium hard coking coal – a key input for met coke – gained $3/t w-o-w to $197/t FOB, driven by stronger Chinese buying indications.
• Active inquiries tighten merchant met coke supply in east: A southern India-based blast furnace player has been actively inquiring for bulk met coke purchases, floating tenders. As per sources, the company has finalised a couple of tenders recently, which has tightened the domestic merchant market supply, resulting in elevated offers from other sellers.
• Indian pig iron prices rise in recent auctions: Steel-grade pig iron prices in Durgapur were assessed at INR 31,850/t, up INR 600/t w-o-w. Pig iron prices, however, stayed nearly unchanged across most domestic regions. Additionally, at SAIL-Rourkela, a 4,000-t auction on 3 November closed at INR 31,700/t exw, higher by INR 1,150/t from late October. Meanwhile, NMDC’s Nagarnar plant sold 5,000 t at INR 30,500/t, pending approval.

China: Stable market amid cost pressure

China’s met coke market held steady in early November, backed by tight supply and elevated raw material costs. Despite weak steel margins, production curbs in Hebei and Shanxi helped balance market sentiment.

Shanghai HRB 400 rebar dropped to RMB 3,220/t, and hot-rolled coil settled at RMB 3,340/t, reflecting sluggish steel demand. Still, Tangshan Quasi Grade I coke held at RMB 1,340/t and Rizhao Quasi Grade I at RMB 1,540/t, showing resilience amid constrained output.

Outlook

Met coke prices are expected to remain stable to firm in the near term, supported by strong demand from eastern buyers and elevated coking coal costs. Active trading and steady regional consumption are likely to sustain market sentiment.