Global coking coal prices increased in the second half of March, driven primarily by rising freight costs linked to geopolitical tensions in the Middle East, although demand fundamentals remained weak.
According to market data, premium hard coking coal FOB Australia reached $239.14/ton on March 27, up 6.3% week-on-week, while China’s domestic prices (EXW Anze) rose 7.3% to $228.65/ton.
The price surge was largely attributed to higher shipping costs and oil price volatility, which tightened supply conditions. In China, prices have risen for three consecutive weeks, supported by a 50 yuan/ton coke price increase effective April 1 and a gradual recovery in pig iron production.
However, market sentiment remains cautious. Forecasts suggest Chinese coking coal demand may cool in April as buyers reassess fundamentals following recent gains.
In India, elevated freight rates have reduced purchasing activity, with steel mills delaying cargo bookings and shifting focus to port inventories.
Meanwhile, Macquarie has raised its 2026 coking coal price forecast to $228/ton, citing tighter supply of lower-grade coal and ongoing logistics risks.
VietnamSteel by Hoa Sen Group
