The reference price for ex-Australia premium hard coking coal (PHCC) has increased by $10/mt since late July to $188/mt FOB after a deal signed at $188.82/mt FOB for 80,000 mt of mid-volatile Goonyella PHCC for late September loading done late last week. The price has been assessed as being on the higher side, amid the strong demand for mid-volatile material in India for October arrivals, when demand for steel is expected to rebound after the monsoon.
As for the Chinese coking coal market, the tradable level for PHCC is still at $175-180/mt CFR at the highest, making purchases from Australia less attractive. Market sources said that, after sharp losses in coking coal futures last week, prices are going to stabilize and the focus will be on local coke prices after fives round of price hikes. During last week ending August 1, coking coal futures at Dalian Commodity Exchange (DCE) lost RMB 166.5/mt ($23/mt) or 13.2 percent since July 25, while today, August 4, the most popular coking coal futures, for January 2026, closed with a 2.3 percent increase since last Friday.