Global prices for coking coal have been volatile in October

Coke | 2026-10-21 13:58:11 | By Carolina Curiel

The price of high-quality coking coal FOB Australia stood at $272.4/t as at 16 October 2026 (+1.3% compared with 2 October). Meanwhile, on 18 September, the price of this raw material was $278.7/t, and on 9 October it was $276/t.

Global prices for coking coal continued to be volatile in October; the market is facing uncertainty regarding supply volumes.

At the start of this week, prices for Australian seaborne coking coal fell slightly. In particular, Chinese buyers are currently favouring domestic and Mongolian coal. Recent deals concluded in the middle of this month with Indian consumers show that the country’s steelworks are purchasing shipments based on production requirements and economic viability, particularly freight costs. These factors are likely to determine purchases of seaborne coking coal in India in the short term.

Spot prices for coking coal in China (EXW, Anze) stood at $354.2/t as at 16 October, up 1% on the start of the month (2 October). Over the month (compared with 18 September), they fell by 5.3%.

Following the public holidays, between 8 and 15 October, spot prices for coking coal in China rose thanks to a revival in online auctions — buyers returned to the market in search of favourable deals. Demand gradually recovered, and trading activity for the period picked up following a decline in September. At the same time, futures for this commodity fell due to government efforts to increase domestic supplies.

On 16 October, the National Development and Reform Commission and the National Energy Administration held a meeting in Shanxi Province to speed up the resumption of mining operations and increase coal production.

Consequently, the market may face an increase in supply this month — the further trend in October will depend on the actual recovery of domestic production in response to Beijing’s call to local authorities and on demand from steelmakers. This will put additional pressure on prices, as will the margins of steelworks and the volume of supply from abroad.

On 19 October, coking coal futures on the Dalian Commodity Exchange (January delivery contract) suffered their sharpest fall in over two months. The daily trading session closed at 1,403 yuan per tonne ($209.8/t), 5.6% below the previous day’s settlement price. This was driven by expectations of increased supplies, particularly from Mongolia. However, the market stabilised the very next day, and the benchmark price rose slightly.

As for coke, there have been two rounds of price reductions for this product in China this month, initiated by steelworks. According to BigMint’s estimates, the total reduction since 1 October has amounted to 200–220 yuan/t (around $30–33/t). A subsequent attempt by coke producers to raise prices was met with resistance from steelworks.

Another factor influencing the market is the volume of Russian supplies. At the end of September, PJSC ‘Raspadskaya’, the largest producer of coking coal in the Russian Federation, suspended production at the mine of the same name following a fire that broke out on the night of 30 September. This incident followed other operational disruptions earlier this year. Whilst this does not imply a shortage of Russian PCI, it is a significant consideration for Asian buyers.

It should be noted that global prices for coking coal at the end of September remained significantly higher than in August. Expectations regarding supply in China in the middle of the month changed as a result of new regulatory measures.

Courtesy : https://gmk.center/en/news/