India: BigMint’s coking coal index inches up w-o-w, trades remain thin

• Indian BF mills lift steel prices for early Jan’26
• Weather concerns in Australia may impact Coking coal prices

BigMint’s premium hard coking coal (PHCC) index rose $2/t to $238/tonne (t) CNF Paradip, India, on 9 January 2026, against the previous assessment on 2 January. Although trade activities remained limited, offers remained on higher side as trader sources expect prices should go up due to weather related disruptions in Australia.

A few Indian mills are in the market for securing cargoes, however, bids were lower by $5-10/t lower than current offers.

BigMint has consolidated its PHCC CFR India Index to include material of all origins, including US, Canada, Mozambique, Australia — normalised for quality and freight. With India steadily reducing its reliance on Australian PHCC and increasing imports from alternative sources, this update ensures the index accurately reflects evolving market dynamics and trade flows.

Factors influencing prices

Domestic met coke prices in India stengthen w-o-w post anti-dumping imposition- The Indian BF-grade metallurgical coke market recorded a week-on-week increase during the week ended 07 January 2026, supported by improved demand sentiment in key steelmaking regions. BF-grade met coke (25-90 mm) prices in eastern India rose by INR 200/t to INR 32,200/t ex-Jajpur, while western India prices increased by INR 300/t to INR 30,100/t ex-Gandhidham.

Australian PHCC prices inch up- Australian PHCC prices have remained inched up w-o-w at $218.5/t FoB. Consistent rainfall in Australia kept prices supported.

Trade-level BF rebar prices rose w-o-w across major Indian markets, supported by recent price hikes announced by primary mills, improved trading activity, and tight material availability in the distribution channel. Primary producers raised rebar list prices by up to INR 1,000/tonne (t) ($11/t) during the week, taking landed prices to around INR 52,000-53,000/t ($577-588/t). As a result, trade-level BF rebar prices increased by INR 600/t ($7/t) w-o-w to approximately INR 52,500/t ($583/t) exy-Mumbai, excluding 18% GST. Also, domestic HRC prices have stayed high after two price hikes in December and another increase in early January 2026. Steelmakers are raising prices following the safeguard duty announcement, supported by policy, restocking activity, and positive market expectations, even though demand is moderate.