- Indian met coke prices remain supported
- Chinese coke offers may see 5th hike soon
BigMint’s premium hard coking coal (PHCC) index was assessed at $194/tonne (t) CNF Paradip, India, on 1 August 2025, down by $1/t against the previous assessment on 25 July.
An Australian miner sold 80,000 t of Goonyella (20–29 Sep laycan) cargo to a trading house at $188.82/t FOB Australia yesterday.
“Offers of Australian origin cargoes are hovering in the range of $197-200/t, CFR India. However, offers from Canada have been heard on the lower side: around $182-185/th CFR India. On the other hand, bids for Australian cargoes have been lower at $195/t CFR India levels”, said a mill executive.
Rationale
BigMint’s coking coal index is derived using data points, i.e., trades, offers, bids, and indicative prices.
No deal was recorded during the publishing window. Hence it was not considered for index computation and given a weightage of 0%.
Sixteen (16) firm offers, bids, and indicative prices were heard. Out of these, thirteen (13) were considered for price calculation and given 100% weightage.
BigMint has consolidated its Prime Hard Coking Coal (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 impacting imported coking coal prices
1. Indian met coke prices hold firm w-o-w: In eastern India, BF-grade (25-90 mm) met coke prices remained unchanged, with BigMint assessing rates at INR 29,000/tonne (t) ex-Jajpur. Similarly, the western region prices witnessed an uptick, with Gandhidham recording ex-works prices of INR 29,800/t.
2. Chinese met coke prices rise further – China’s met coke prices have risen for the fourth time since mid-July-up by RMB 200-220/t in total-as steelmakers accept another RMB 50-55/t hike, driven by strong demand, low coke inventories, and high coking coal costs. However, coke producers face shrinking margins due to surging coking coal prices, limiting output recovery. Some are even operating at a loss or below full capacity. As per sources, fifth round of met coke price hike is likely in near term.
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