A Crisil report says Indian primary steelmakers face higher production costs driven by costlier coking coal. Potential supply disruptions in key exporting regions and sustained demand from major steel-producing countries are expected to push coking coal prices up.
A government official highlighted that India imports 85% of its coking coal, exposing producers to supply-chain disruptions and price volatility. This dependence increases vulnerability to geopolitical risks and freight issues, likely firming coking coal prices.
| Product | Region | Incoterm Basis | Price | Last Updated Month |
|---|---|---|---|---|
| Coking Coal | China | FOB | USD 284.00/MT | June 2026 |
| Coking Coal | India | CIF | USD 371.55/MT | June 2026 |
| Coking Coal | USA | CIF | USD 438.95/MT | June 2026 |
| Coking Coal | Germany | CIF | USD 405.49/MT | June 2026 |
| Coking Coal | Canada | CIF | USD 444.00/MT | June 2026 |
| Coking Coal | China | FOB | USD 232.50/MT | May 2026 |
| Coking Coal | India | CIF | USD 299.84/MT | May 2026 |
| Coking Coal | USA | CIF | USD 351.69/MT | May 2026 |
| Coking Coal | Germany | CIF | USD 325.95/MT | May 2026 |
| Coking Coal | Canada | CIF | USD 357.50/MT | May 2026 |
Stay updated with the latest coking coal prices, historical data, and tailored regional analysis
Asia
In Q2’26, Coking Coal prices in China were ~USD 228.72/MT in April and ~USD 284.00/MT in June, showing a ~24.2% increase. The market remained weak during early Q2 as steel mills purchased only immediate requirements and avoided inventory building. Conditions changed after a major coal mine accident in Shanxi triggered safety inspections and temporary mine closures, reducing domestic availability and supporting prices. Supply pressure eased in June as suspended mines restarted and imports increased. Chinese coking coal imports in May rose 51% year over year, while higher Mongolian supply supported availability. China received 26.42 million tonnes of Mongolian coking coal during January–April, increasing 68% year over year. In India, prices increased to ~USD 365.72/MT in April and ~USD 372.00/MT in June, showing a ~1.7% increase. Strong steel demand supported consumption, with crude steel output reaching 14.21 million tonnes in May and finished-steel consumption increasing 9.0%, maintaining demand for imported premium coking coal.
Europe
Coking Coal prices in Germany were ~USD 354.72/MT in April and ~USD 405.00/MT in June, showing a ~14.2% increase. European markets faced supply uncertainty after international availability tightened, but weak steel demand limited the impact. EU crude steel production declined 1.8% year over year in April, reducing blast-furnace coal consumption. Lower automotive activity and subdued construction demand restricted stronger buying, while increasing electric-arc furnace adoption reduced long-term dependence on coking coal. Imported premium coal availability remained important for European mills, keeping prices supported despite weak consumption.
North America
Coking Coal prices in the United States were ~USD 315.72/MT in April and ~USD 439.00/MT in June. Stronger steel output supported demand, with North American crude steel production increasing 6.9% year over year in April. US metallurgical coal exports remained stable, with higher shipments directed toward India. Additional supply from new mining operations improved availability, limiting prolonged tightness. Stronger domestic steel activity and export demand supported prices, while increased production capacity reduced further upward pressure.
Analyst Insight
According to Procurement Resource, coking coal prices are expected to remain influenced by Chinese mine activity, global steel production trends and new supply from Australia and North America.
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Asia
Coking coal prices in Asia followed a weak-to-firm trend in Q1’26, declining early due to sufficient mine supply and cautious steel mill buying, then recovering as supply tightened and freight risks increased. China’s coal mining and washing sector expanded steadily, while imports rose modestly by 1.3% year on year, indicating stable upstream availability and continued reliance on seaborne supply. However, downstream demand remained limited as global steel production fell, with total output at 147.3 million tonnes in January 2026, down 6.5% year-on-year, which reduced coking coal consumption. Late-quarter recovery was supported by safety checks and improved steel output.
Europe
Coking coal prices in Europe remained under pressure in Q1’26 due to weak steel production and reliance on imports. Steel demand stayed soft, with EU output trends reflecting broader global decline, reducing blast furnace activity and coking coal consumption. Import dependence exposed the region to higher freight and energy costs after the Strait of Hormuz disruption, as the route carries about one quarter of global seaborne oil trade, increasing logistics and input cost pressure. Despite this, weak downstream demand limited upward momentum.
North America
Coking coal prices in North America remained relatively stable in Q1’26, supported by export-linked demand but constrained by moderate domestic steel activity. U.S. coal exports reached 23.5 million short tons in Q4’25, indicating strong export positioning entering Q1’26, which supported sentiment. Domestic demand remained limited due to stable steel output and structural shifts toward electric arc furnace production. Indirect cost pressure from higher fuel and freight costs following geopolitical disruption influenced market conditions but did not significantly alter supply.
Coking Coal is a grade of coal which is utilised to make good-quality coke. Coke is an essential fuel as well as a reactant in the blast furnace process for steelmaking. Primary steelmaking companies often have a division which produces coal for coking, particularly to ensure a stable and low-cost production of steel.
Coke production, Reactant, Steelmaking, Liquid fuel, Electricity, Cement manufacturing
Metallurgical Coal
OJSC Raspadskaya Coal Company, Goonyella Riverside Mine (BHP Mitsubishi Alliance), Saraji Coal Mine (BHP Billiton/Mitsubishi Alliance), Mitsui Coal Holdings Pty Ltd., Anglo American plc, Mechel Group, Mitsubishi Chemical Corporation
CurrencyUS$ (Data can also be provided in local currency)
Supplier Database AvailabilityYes
Customization ScopeThe report can be customized as per the requirements of the customer
Post-Sale Analyst Support360-degree analyst support after report delivery
Just like other grades of coal, Coking Coal is also derived by mining. It undergoes industrial processing before its utilisation.
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This report provides the cost structure of coal liquefication by the indirect liquefaction process. In this process, coal is converted into synthesis gas or syngas, a mixture of CO and H2 gas.
This report provides the cost structure of coal liquefication by direct liquefaction. In this process, coal is exposed to hydrogen at 450°C along with high pressure for one hour in the presence of recycled solvent and iron-based catalyst.
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