- Australia-India vessel freights inch up w-o-w
- Indian HRC prices decline slightly on subdued demand
BigMint’s premium hard coking coal (PHCC) index was assessed at $253/tonne (t) CNF Paradip, India, on 01 May 2026. Index has witnessed less price movement in the past two weeks owing to sufficient stocks with mills and drop in steel prices which limited active buying inquiries.
“Hardly any deals have been heard for India this week. FOB Australia PHCC price indications are around $230-231/t FOB”, quoted a market participant.
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-
Aus-India vessel freights inch up: Dry bulk coal freight to India showed a mixed to firm trend in the week ended 1 May, with Panamax routes finding support across basins. Brent crude oil (July 2026 contract) was last assessed at $111.08/bbl on 1 May, up by $6.55/bbl from $104.55/bbl a week earlier, supported by continued strength in broader market sentiment. Following this, vessel fright from Hay Point to Paradip rose $0.5/dmtu w-o-w to $22.1.
India’s domestic met coke prices remain stable w-o-w: India’s BF-grade metallurgical coke prices remained largely stable w-o-w as of 30 April 2026. Prices held steady at INR 36,400/t ex-Jajpur in the eastern region, while the western market saw a marginal decline of INR 200/t to INR 33,500/t ex-Gandhidham. Foundry-grade (+90 mm) coke prices were also unchanged at INR 36,400/t ex-Rajkot, indicating overall price stability across key markets.
Indian HRC prices decline slightly on subdued demand: Trade-level prices of hot-rolled coils (HRC) across Indian markets fell w-o-w on 28 April 2026 to INR 57,300-59,500/t ($605-628/t), while cold-rolled coil (CRC) prices were assessed at INR 62,000-68,200/t ($655-720/t). Subdued demand and cautious market sentiment continued to weigh on prices. BigMint’s bi-weekly benchmark assessment for HRCs (IS2062, Gr E250, 2.5-8 mm/CTL) declined by INR 1,000/t ($11/t), w-o-w to INR 57,900/t ($611/t) as of 28 April compared to INR 58,900/t ($622/t) on 21 April.
Outlook
BigMint expects coking coal prices to fall marginally on sufficient supplies and comparatively weaker buying interest.
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