Ex-Australia premium hard coking coal (PHCC) prices have been under pressure from the weak demand from the major buyers, India and China. A deal for 85,000 mt of low-volatile Peak Downs PHCC was done at $223.11/mt FOB in the middle of last week. Moreover, firm bids for mid-volatile PHCC have already gone down to $220-221/mt FOB. So, the reference price for ex-Australia PHCC has settled at $222/mt FOB, down by $2/mt from the previous $224/mt FOB level in a deal early last week.
On July 24, 2026, a vehicle-related fatal accident happened at the Peak Downs open-cut coking coal mine owned by BMA. This resulted in a temporary shutdown of all the company's five coal mines in the Bowen Basin (also including Saraji, Broadmeadow, Caval Ridge, and Goonyella Riverside). Four mines that were not involved in the accident resumed operations at the weekend, but work at Peak Downs remained suspended amid the investigation by the Resources Safety and Health Queensland (RSHQ).
Even though this news has triggered some supply concerns regarding high-grade coking coal, there are no expectations of an impact on prices and delays in shipments so far. So, most market sources expect PHCC prices to fluctuate near the $220/mt FOB mark in the near future, if demand from the two major outlets remains the same.
