Asia
In Q4’25, the Asian met coke market traded actively but remained policy-driven. The Asian met coke price in India traded firm and with upward pressure during the quarter. The government’s decision to increase import quotas and subsequently propose anti-dumping duties on cargoes arriving from key supplier nations like Indonesia and China altered the buying pattern. The importers sought to procure the product before the imposition of the anti-dumping duty. This boosted the demand for the product.
Despite the imposition of the duty, the imported met coke, particularly the one originating in Indonesia, continued to remain competitive. This ensured the price difference between the domestic and imported product remained low. The Asian met coke price in China continued to experience pressure during the quarter. The weak steel margins and the cautious approach towards the procurement of raw materials kept the Asian met coke price under pressure. However, towards the end of the quarter, the Asian met coke price saw some respite.
Europe
In Europe, the prices of met coke moved with a softer trend in Q4’25. Steel production was moderate, and the mills purchased met coke with caution due to low profit margins. The demand for raw materials was steady but not robust enough to lift prices. Supply to the European market was steady, and there were no issues. The prices traded in a small range with some volatility due to changes in steel production and raw materials. The sentiment was cautious, with buyers more focused on inventory management than building new stocks.
North America
In the North American met coke markets, the prices traded sideways to firm during the quarter. The addition of metallurgical coal to the critical minerals list by the U.S. Department of the Interior helped sustain the overall tone in the steel raw materials space. The steel markets in the U.S. traded sideways, which kept the markets well balanced. The overall global steel markets traded weak, which prevented the met coke markets from appreciating strongly.