- Australian coking coal offers remain largely stable
- Vessel freights rise by $4/t w-o-w, boosting CNF prices
BigMint’s premium hard coking coal (PHCC) index was assessed at $249/tonne (t) CNF Paradip, India, on 13 March 2026, up by $9/t against the previous assessment on 06 March. The index had fallen to a 2-month low last week as cautious buyer sentiment and lower bids weighed on prices.
Landed prices of coking coal increased due to rising freights. Dry bulk freights for coal shipments to India continued to strengthen w-o-w on 13 March 2026, supported by firm vessel sentiment and higher operating costs, even as fresh vessel fixing activity remained relatively slow. BigMint’s assessment for Panamax vessel freights for coal from Haypoint to Paradip rose by over $4/t w-o-w to $26.4/t this week. Meanwhile, Australian coking coal offers remained largely stable throughout this week.
No deals were collected by BigMint this week, as buyers delayed bookings in anticipation of price drops.
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
Indian domestic met coke prices exhibit mixed trends w-o-w: Indian blast furnace (BF)-grade metallurgical coke prices dropped slightly w-o-w in eastern India on 11 March 2026, owing to weaker trade activities and a continued drop in coking coal prices seen in the past two weeks. However, prices in western India remained stable w-o-w. This is despite an $11/t increase in Indonesian imported prices w-o-w. As per BigMint’s assessment in eastern India, BF-grade coke (25-90 mm) prices fell by INR 600/t w-o-w to INR 35,000/t ex-Jajpur. Prices in western India remained supported at INR 31,000/t ex-Gandhidham.
Meanwhile, foundry-grade coke (+90 mm) prices were largely stable at INR 36,000/t ex-Rajkot, reflecting stable demand from the casting and foundry sector.
Indian BF-rebar trade prices jump to 3-year high in Mar’26: Trade-level BF-rebar prices have hit a three-year high in March 2026, as per BigMint data. Continuous price hikes by primary mills led to the surge in prices over the last three months. Indian primary steelmakers increased rebar prices by INR 500/t ($5/t) during this week, sources informed BigMint. Post-revision, list prices stood at INR 58,500-60,000/t ($633-649/t) on landed basis.
Outlook
BigMint expects coking coal prices to remain largely stable in a week’s time. However, vessel freights may witness volatility amid the ongoing geopolitical tensions in the Middle East and impacted CNF offers to India.
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