April 2, 2026 - In the second half of March, the coking coal market reacted to rising freight rates caused by the conflict in the Middle East, leading to higher prices for this raw material; however, demand did not support this trend.

According to Kallanish, the price of high-quality coking coal FOB Australia as of March 27, 2026, stood at $239.14/t, up 6.3% from the previous week (March 20).

Spot prices for coking coal in China (EXW, Anze) on the same date stood at $228.65/t (+7.3% from the previous week).

Prices for Australian seaborn coking coal rose at the end of last week (March 27) in response to significant fluctuations in oil prices and supply constraints caused by rising freight costs amid the conflict with Iran.

In China, prices for this raw material rose for three consecutive weeks, with this trend intensifying between March 20 and 27. On March 27, mills agreed to the first round of coke price increases (by 50 yuan per ton starting April 1), as pig iron production began to recover in the country.

According to Mysteel forecasts, sentiment in the Chinese coking coal market will cool in April following the price increases in March, as market participants reassess their price expectations in light of fundamental indicators.

The Indian coking coal and coke market in the second half of March was also affected by the fallout from the conflict in the Middle East, which led to higher shipping costs. This dampened buyer activity, with steel mills postponing cargo bookings while awaiting greater certainty. The focus of demand shifted to port inventories.

Meanwhile, the Australian group Macquarie raised its coking coal price forecast for the current year to $228/t from $188/t, as expected last year. The company anticipates a reduction in the supply of low-grade raw materials and increased risks for maritime shipments.

As a reminder, at the beginning of last month, the global coking coal market remained generally stable despite mounting tensions over energy prices.