March 8, 2026 - Seaborne coking coal prices tumbled last week as the Middle East conflict weighed on market sentiment, while rising supply and weakening demand added further pressure.

Kallanish assessed premium hard coking coal at $218.44/tonne fob Australia on Friday, plunging $20.98/t from $239.42/t the previous week.

On the Singapore Exchange, premium coking coal futures for April settled at $217/t. This is versus the March settlement price of $220/t the previous week.

According to traders, one trader sold 75,000 tonnes of Goonyella C with 15-30 April laycan to an end user at $219/t on Monday.

Meanwhile, a deal was heard concluded at $135-140/t cfr to South Korea for a 75,000t BMA high ash 15% cargo on Thursday.

"The Middle East conflict has affected the thermal coal market and freight. As for the coking coal market, the situation may look more dire if freight continues to rise. Then, some buyers might consider postponing their laycan because of the higher freight cost," says a Singapore-based trader. 

He also notes Chinese authorities’ subdued 2026 GDP growth target announced last week has failed to excite the market.

Another Singapore-based trader says the Middle East conflict is unlikely to boost coking coal prices. "It is a buyer market due to excess supply. So sellers will absorb higher freight," he adds.

A China-based trader opines that China's latest economic and political blueprint is unlikely to boost coking coal values, as the market direction remains uncertain.