- Australian coking coal prices have risen by $15/t since beginning of Jan’26
- Indian met coke prices remain supported
BigMint’s premium hard coking coal (PHCC) index was assessed at $247/tonne (t) CNF Paradip, India, on 16 January 2026, up by $9/t against the previous assessment on 09 January last. However, no firm bookings were so far in this publishing window. Indian steelmakers seem to be considering importing met coke despite the recent imposition of an anti-dumping duty and a steep increase in landed costs. This comes amid a sharp hike in coking coal prices which have risen by $15/t since beginning of Jan’26.
Australian coking coal prices have surged by nearly $15/tonne (t) since the beginning of this year, with price indications for premium hard coking coal (PHCC) standing at $230-235/t FOB Australia. Mining disruptions, owing to heavy rainfall from Cyclone Koji, have prompted a few miners to go for force majeure. Trader sources expect prices may increase further in the near term.
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
Chinese met coke producers plan for price hike – Chinese met coke producers are likely to lift offers by RMB 50-55/t ($7-8) following surge in coking coal prices. This comes after four round of price cuts seen so far.
Indian met coke prices remain supported – The Indian BF-grade metallurgical coke market remained largely stable on a week-on-week basis in the week ended 14 January. Market activity was subdued, with limited spot transactions and cautious buyer participation, reflecting a wait-and-watch approach amid evolving raw material cost dynamics and seasonal factors. In eastern India, BF-grade metallurgical coke (25-90 mm) prices edged up marginally by INR 100/t to INR 32,300/t ex-Jajpur, supported by firmer input cost sentiment.
Indian primary mills hike rebar list prices for mid-Jan’26 – Indian Tier-I mills have increased rebar prices by up to INR 2,500/tonne (t) ($28/t) for mid-January 2026 deliveries, sources informed BigMint. Post-revision, list prices stood at INR 54,000-55,000/t ($594-605/t) on landed basis. Following this, trade-level blast furnace (BF) rebar prices (distributor to dealer) rose w-o-w across major Indian markets. The distribution channel experienced limited material availability in some sizes, highlighted market participants.
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