- India’s coking coal imports drop 12% m-o-m in Apr
- Indian steel prices remain under pressure on bearish market sentiments
BigMint’s premium hard coking coal (PHCC) index was assessed at $266/tonne (t) CNF Paradip, India, on 08 May 2026. Index has risen by $13/t w-o-w amid longer delays and looming supply issues in Australia. Index is trading close to three-month high as similar levels were seen in early Feb’26, as per data maintained with BigMint.
“Loading delays are being witnessed across the Australian PHCC market due to slowdown in mining activities and weak production levels. The delay in mining operations has further tightened market availability. This has resulted in pushing prices up”, quoted a participant from Indian steel mill.
Earlier this week, an Australian miner sold 75,000t of Goonyella coking coal with a 10-19 June laycan at $242.80/t fob Australia.
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 mixed trends in the week ended 8 May, with Panamax routes remaining firm across the Pacific and Atlantic basins, while Supramax routes stayed under pressure due to muted cargo activity and ample vessel supply in Asia. Market sentiment remained cautious, with selective fixing and uncertainty limiting stronger momentum. Following this, vessel fright from Hay Point to Paradip rose $1.9/dmtu w-o-w to $24.
India’s met coke market sees cost-push support amid cautious downstream buying – India’s blast furnace (BF)-grade metallurgical coke prices remained largely stable w-o-w as of 7 May 2026, supported by balanced supply-demand dynamics and firm import parity levels. In the eastern region, BF coke prices were stable at INR 36,400/t ex-Jajpur, while western India witnessed a marginal increase of INR 200/t to INR 33,500/t ex-Gandhidham, reflecting improved replacement costs and firmer imported offers. Meanwhile, foundry-grade (+90 mm) coke prices remained unchanged at INR 36,400/t ex-Rajkot, indicating stable demand from the casting and foundry segment.
India’s coking coal imports drop marginally: India’s coking coal imports were recorded at 5.7 mnt in Apr’26, as per provisional data maintained with BigMint. Imports fell against 6.5 mnt in Mar’26. Imports from Australia fell from 3.1 mnt in Mar’26 to 2.5 mnt in Apr’26.
Indian BF mills roll over rebar prices for Apr’26 – Indian primary steelmakers have rolled over rebar list prices for early-May 2026 dispatches over end-April price tags, sources informed BigMint. Post-revision, list prices stood at INR 59,000-60,000/t ($620-630/t) on landed basis. Trade-level BF-rebar prices (distributor to dealer) dropped by INR 300/t ($3/t) to INR 59,400/t ($624/t) exy-Mumbai, as per BigMint’s assessment on 5 May.
Market sentiments remained subdued last month. Buying activity slowed noticeably, with participants limiting purchases to immediate requirements. They reported comfortable inventory levels, supported by weaker material offtake toward the end of the month. In response to subdued demand, mills extended price support on list prices to stabilise the market.
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