India’s domestic met coke market continued to remain strengthen in early January 2026, with prices rising by around Rs. 300–500/ton WoW. The increase reflected improving market confidence and better demand conditions across key regions.
Blast furnace (BF) grade met coke offers increased by Rs. 300/ton to around Rs. 33,000/ton ex-Jajpur, while actual transactions were reported closer to Rs. 32,500/ton ex-works. In western India, prices also moved up by a similar margin, with offers rising to around Rs. 30,100/ton ex-Gandhidham. These price gains have encouraged a more optimistic outlook among coke producers and traders.
One of the main factors supporting the market was the strengthening of prices following the imposition of provisional anti-dumping duties. The domestic met coke market sentiments improved, supported by rising demand from major steel-producing hubs.
The duties have helped protect domestic producers from cheaper imports, allowing local prices to recover and stabilise. As a result, suppliers reported better confidence, and buyers appeared more willing to accept higher price levels.
Another key influence was the tightness in India’s imported premium hard coking coal (PHCC) market.
Australian-origin PHCC offers increased by around $2/ton WoW to approximately $242/ton on a CNF Paradeep (India) basis.
Trading activity remained limited, as buyers were cautious about booking material at higher prices. However, market participants expect prices to rise further due to ongoing weather-related disruptions in Australia. Heavy rainfall in major coal-producing regions has raised concerns about mining operations and shipment schedules, which could restrict supply in the coming weeks.
On the international front, Australian PHCC prices also edged higher reaching around $218.5/ton on FoB basis.
Continuous rainfall has kept supply risks active and prevented any meaningful price correction. These weather-related challenges are influencing global coking coal markets, adding cost pressure for coke producers and steelmakers alike.
Support also came from the Indian steel sector. Indian primary (BF route/ Tire-1) mills raised downstream steel prices in early January 2026, improving sentiment across the entire value chain. Trade-level BF route rebar/TMT prices increased across major markets, supported by recent price hikes announced by primary producers.
Mills raised rebar list prices by around Rs. 600–2,000/ton, taking landed prices to around Rs. 52,000–53,000/ton nationwide.
In addition, domestic hot rolled coil (HRC) prices remained firm after simultaneous hike in December 2025 and early January 2026, supported by safeguard duties and restocking activity, despite only moderate end-user demand.
Overall, higher primary (BF route) steel prices, imposition of AD duty, supply crunch in Australia and stable demand conditions are providing strong cost support to metallurgical coke.
Outlook
Over the next month, met coke prices are expected to remain firm, likely trading in the range of Rs. 33,000–34,000/ton.
Continued weather risks in Australia may keep coking coal prices elevated, while firm steel prices should limit downside risks and support the market.
