The article discusses the importance of the coking coal price index in tracking and analyzing price trends of coking coal in the global market. It explains how the index takes into account various factors and provides a standardized measure of the average price of coking coal. Market participants can use the index to monitor price movements, make informed decisions, and manage their price risk. The article also mentions the commonly used Platts Coking Coal Index (PCCI) and other available indices from major

The global coal price index reached 154 index points in February 2025. This was a decrease compared to the previous month, which also reflected a fall in the overall fuel energy price index. The global coal index expresses trading of Australian and South African coal, as both countries are among the largest exporters of coal worldwide. How coal profited from the 2022 gas crunch Throughout 2022, coal prices saw a significant net increase. This was largely due to greater fuel and electricity demand as countries slowly exited more stringent coronavirus restrictions, as well as fallout from the Russia-Ukraine war. As many European countries moved to curtailing gas imports from Russia, coal became the alternative to fill the power supply gap, more than doubling the annual average price index between 2021 and 2022. Main coal traders and receivers Although China makes up by far the largest share of worldwide coal production, it is among those countries consuming the majority of its extracted raw materials domestically. In terms of exports, Indonesia, the world's third-largest coal producer, trades more coal than any other country, followed by Australia and Russia. Meanwhile, Japan, South Korea, and Germany are among the leading coal importers, as these countries rely heavily on coal for electricity and heat generation.

Explore the dynamic and volatile hard coking coal price trends influenced by global demand, supply chain disruptions, geopolitical tensions, and the shift towards sustainable energy. Understand the impact of these factors on steel production costs and market strategies.

Coal decreased 28.50 USD/MT or 22.75% since the beginning of 2025, according to trading on a contract for difference (CFD) that tracks the benchmark market for this commodity. Coal - values, historical data, forecasts and news - updated on March of 2025.

It is forecast that the average price for hard coking coal in 2026 will be 21.80 nominal U.S. dollars per metric ton. Meanwhile, the average price for semi-soft coking coal is forecast to be 138.20 nominal U.S. dollars per metric ton that year.

Learn about the coking coal index and how it is used to track the price movements of coking coal in the global market. Discover its importance for buyers and sellers in negotiating prices and managing price risk, as well as its impact on the coal and steel industries. Find out how the index is calculated and influenced by various factors, and how it provides valuable insights into the overall health of the steel industry.

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Metallurgical Coal Market Size 2025-2029

The metallurgical coal market size is forecast to increase by USD 99.6 billion at a CAGR of 4.8% between 2024 and 2029.

The market is driven by the increasing demand for steel and the rise in several smart city projects, leading to an increase in consumption of coal. However, the market faces challenges such as volatility in metallurgical coal prices due to supply and demand imbalances. To mitigate this, coal blending and coal characterization through techniques like coal washing, coal property analysis using vitrinite reflectance and petrography, and coal reserve exploration are crucial.
Coal washing enhances coal quality by removing impurities, while coal characterization provides insights into coal's caking index, thermal maturity, and carbonization properties. Fossil carbon's role in the coal industry is significant as it is a critical feedstock in steel manufacturing and carbonization processes. The demand-supply gap in the market necessitates efficient coal production and utilization strategies.

What will be the Size of the Market During the Forecast Period?

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How is this market segmented and which is the largest segment?

The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in 'USD billion' for the period 2025-2029, as well as historical data from 2019-2023 for the following segments.

Application

  Steel making
  Non-steel making


Type

  Hard coking coals
  Semi-soft coking coals
  Pulverized coal injection


End-User

  Construction
  Transportation
  Health Care
  Agriculture
  Others


Geography

  APAC

    China
    India
    Japan


  North America

    Canada
    US


  Europe

    Germany
    UK
    France


  Middle East and Africa

    UAE


  South America

    Brazil

By Application Insights

The steel making segment is estimated to witness significant growth during the forecast period. Metallurgical coal plays a crucial role in the steel industry, serving as the primary feedstock for coke production in steelmaking processes. The BF-BOF (Basic Oxygen Furnace-Blast Furnace) and EAF (Electric Arc Furnace) routes are the two primary methods for producing steel. In the BF-BOF process, large quantities of metallurgical coal are required to produce carbon-rich coke, which is essential for reduction of iron ore and the production of pig iron. In contrast, the EAF process uses scrap metal and requires lower volumes of metallurgical coal for anaerobic heating. While both methods contribute to steel production, the BF-BOF process was the dominant method used in 2020.

Furthermore, the consumption of steel is often used as an economic development indicator, and this growth in steel production highlights the ongoing economic recovery. The various types of metallurgical coal, including anthracite, bituminous coal, sub-bituminous coal, and lignite, are utilized based on their carbon content and caking ability in the steelmaking process.

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The steel making segment was valued at USD 160.30 billion in 2019 and showed a gradual increase during the forecast period.

Regional Analysis

APAC is estimated to contribute 85% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional market trends and drivers that shape the market during the forecast period.

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The market in the Asia-Pacific (APAC) region is projected to expand at a faster pace compared to other regions, driven by the significant demand from the steel industry. Factors such as industrialization and infrastructure growth in developing countries like China and India are fueling the demand for steel, which relies on metallurgical coal as a primary raw material for its production. With the rapid urbanization of cities in Asia, the need for steel is high for infrastructure development. Metallurgical coal, with its high carbon content, is essential for producing carbon-rich coke required for coking processes in steelmaking. In 2023, China, Australia, Indonesia, and India were the leading contributors to the growth of the market in APAC.

Furthermore, the demand for this coal type is particularly high in countries like China, which is the world's largest consumer and importer of metallurgical coal. The primary use of these in APAC is for electricity generation and household heating, as well as anaerobic heating and the production of pig iron from iron ore. The caking ability of metallurgical coal is crucial for its use in the steel industry, ensuring the successful production of high-quality iron and steel products.

Market Dynamics

Metallurgical coal, also known as coking coal, plays a vital role in the steelmak

Explore the dynamics of coking coal prices through comprehensive price charts, essential for stakeholders in the steel industry. Understand historical trends, volatility factors, and market analysis to make informed investment and trading decisions. Learn how geopolitical events, supply disruptions, and global demand impact these crucial commodities.

In the third quarter of 2024 (Q3 2024), the Australian coking coal price was 211 U.S. dollars per metric ton, down from 243 U.S. dollars per metric ton in the previous quarter. Coking coal, also known as metallurgical coal, is a low-ash, low-sulfur, low-phosphorus coal that is used to produce coke, which is the main source of carbon used to make steel.

Explore the volatility of metallurgical coal prices, crucial for the global steel industry, influenced by demand shifts, supply dynamics, geopolitical tensions, and economic factors. Understand how historical trends and future forecasts impact market strategies.

Graph and download economic data for Export Price Index (End Use): Metallurgical Grade Coal (IQ11010) from Jan 2025 to Feb 2025 about grades, coal, end use, exports, price index, indexes, price, and USA.

First, domestic prices were measured based on the Polish Power Coal Market Index for sales to professional and industrial energy (PSCM1). Since 2017, coal prices in Poland have been steadily increasing, reaching the highest price of 727.06 zloty/metric ton in the third quarter of 2023. Global coal prices were measured by the ARA index (based on the prices of futures contracts in the ports of Amsterdam-Rotterdam-Antwerp). The ARA index has fallen since the third quarter of 2018, closing the second quarter of 2020 at 222 zloty/metric tons. In the fourth quarter of 2024, coal prices were lower on the global market than on the Polish market (considering the current USD/PLN exchange rate), reaching over 461 zloty per metric ton.

China Settlement Price: Dalian Commodity Exchange: Coking Coal: 4th Month data was reported at 1,081.500 RMB/Ton in 14 Mar 2025. This records a decrease from the previous number of 1,084.000 RMB/Ton for 13 Mar 2025. China Settlement Price: Dalian Commodity Exchange: Coking Coal: 4th Month data is updated daily, averaging 1,256.000 RMB/Ton from Mar 2013 (Median) to 14 Mar 2025, with 2910 observations. The data reached an all-time high of 3,781.500 RMB/Ton in 19 Oct 2021 and a record low of 499.000 RMB/Ton in 24 Nov 2015. China Settlement Price: Dalian Commodity Exchange: Coking Coal: 4th Month data remains active status in CEIC and is reported by Dalian Commodity Exchange. The data is categorized under China Premium Database’s Financial Market – Table CN.ZB: Dalian Commodity Exchange: Commodity Futures: Settlement Price: Daily.

Platts coking coal price assessments are crucial benchmark price assessments in the global coal market. They provide transparency and facilitate efficient price discovery, influencing market decisions on coal trading, investment, and risk management.

India Wholesale Price Index: 82p: Average: Fuel, Power, Light and Lubricants: Coal Mining: Coking Coal data was reported at 595.100 1981-1982=100 in Mar 2000. This stayed constant from the previous number of 595.100 1981-1982=100 for Feb 2000. India Wholesale Price Index: 82p: Average: Fuel, Power, Light and Lubricants: Coal Mining: Coking Coal data is updated monthly, averaging 253.800 1981-1982=100 from Apr 1982 (Median) to Mar 2000, with 216 observations. The data reached an all-time high of 595.100 1981-1982=100 in Mar 2000 and a record low of 100.000 1981-1982=100 in Apr 1982. India Wholesale Price Index: 82p: Average: Fuel, Power, Light and Lubricants: Coal Mining: Coking Coal data remains active status in CEIC and is reported by Ministry of Commerce and Industry. The data is categorized under India Premium Database’s Inflation – Table IN.IH129: Wholesale Price Index: 1981-82=100: Fuel, Power, Light and Lubricants. Rebased from 1981-82=100 to 1993-94=100. Replacement series ID: 19615901

Graph and download economic data for Producer Price Index by Industry: Coal Mining (PCU21212121) from Dec 1985 to Feb 2025 about coal, mining, PPI, industry, inflation, price index, indexes, price, and USA.

India WPI: Fuel & Power: Coal: Non Coking Coal data was reported at 180.800 2004-2005=100 in Mar 2017. This stayed constant from the previous number of 180.800 2004-2005=100 for Feb 2017. India WPI: Fuel & Power: Coal: Non Coking Coal data is updated monthly, averaging 131.200 2004-2005=100 from Apr 2004 (Median) to Mar 2017, with 156 observations. The data reached an all-time high of 221.000 2004-2005=100 in Feb 2013 and a record low of 94.100 2004-2005=100 in Jun 2004. India WPI: Fuel & Power: Coal: Non Coking Coal data remains active status in CEIC and is reported by Ministry of Commerce and Industry. The data is categorized under Global Database’s India – Table IN.IH061: Wholesale Price Index: 2004-05=100: Fuel and Power. Rebased from 2004-05=100 to 2011-12=100 Replacement series ID: 387158197

A met coal index is a measurement tool used in the coal industry to track the price movements of metallurgical coal. It provides transparency, standardization, and valuable market information to participants, enabling them to make informed decisions in the met coal market.

On March 21, 2025, the U.S. Central Appalachian coal price stood at 78 U.S. dollars per short ton. Figures stayed below 80 U.S. dollars for most of 2024 and all of 2025, except for late June and late September 2024. Central Appalachian coal is produced in parts of Eastern Kentucky, Virginia, West Virginia, and Tennessee. In 2023, the annual Central Appalachian coal spot price stood at 73.59 U.S. dollars per metric ton.

One of the leading economic industries in Australia, coal mining has contributed significantly to the local economy. In 2024, the price of Australian coal was around 136 U.S. dollars per metric ton. Coal market The contribution of the coal mining industry to Australia’s economy was valued in the billions of Australian dollars. Coal consumption is much lower than production in Australia, so most of the mined coal is exported. In fact, Australia exports the most coal by value out of any other country, with major export partners including China and India. Australia’s reliance on its mining exports may lead to potential problems, particularly if long-term demand drops due to emerging alternative fuel sources, climate action, and increased competition from other coal producing countries. The effect on the tens of thousands of Australian workers in the mining industry may have already been felt, with lower employment numbers recorded recently. Environmental impact Of late, the fugitive emissions from coal mining have come under fire due to their contribution to environmental pollution. In Australia, emissions from underground coal mines were projected to total 19 million metric tons of carbon dioxide equivalent by 2030. With a global focus on reducing air pollution and mitigating climate effects, the future of mining in Australia may not be as certain as it once was.