India: BigMint's coking coal index eases w-o-w amidst limited trade activities

• Australia-India vessel freights rangebound w-o-w
  
  
• Indian met coke market turns cautious amid lack of clarity on extension of anti-dumping duty
  
  

BigMint's premium hard coking coal (PHCC) index was assessed at $263/tonne (t) CNF Paradip, India, on 04 July 2026, down by $4/t w-o-w. Sufficient inventories and drop in steel prices have held back Indian mills from bidding aggressively for coking coal.

India has not been active in booking Australian coal. However due to weather disruptions & suspension on mining operations in Shanxi, Australian FoB offers have remained supported, cited a source from Indian steel mill.

"Market is weak. We may expect indications at $260/t, CFR levels too in the near term", quoted a trader.

BigMint has consolidated its PHCC CFR India Index to include material of all origins, including US, Canada, Mozambique, Australia -- normalised for quality and freight. With India steadily reducing its reliance on Australian PHCC and increasing imports from alternative sources, this update ensures the index accurately reflects evolving market dynamics and trade flows.

Factors influencing prices

Australia-India vessel freights rangebound w-o-w -India's dry bulk coal freight market witnessed mixed trends in the week ended 3 July 2026. Firm Australian coal fixtures and tightening prompt vessel availability lent support to Panamax rates, while slower cargo movement from South Africa and Indonesia continued to weigh on select trade routes. Panamax vessel freight assessment of BigMint from Haypoint, Australia to Paradip, India was recorded at $18.9/t, up $0.5 w-o-w.

Indian met coke market turns cautious amid lack of clarity on extension of anti-dumping duty - BF-grade metallurgical coke prices in eastern India declined sharply by around INR 500/t w-o-w to approximately INR 36,000/t ex-Jajpur, reflecting weak sales and limited spot transactions. In contrast, in western India, BF-grade coke prices remained stable at around INR 34,000/t ex-Gandhidham, supported by relatively stronger regional demand. Foundry-grade coke prices also held steady at approximately INR 36,400/t ex-Rajkot, backed by consistent demand from the foundry sector.BF-grade metallurgical coke prices in eastern India declined sharply by around INR 500/t w-o-w to approximately INR 36,000/t ex-Jajpur, reflecting weak sales and limited spot transactions. In contrast, in western India, BF-grade coke prices remained stable at around INR 34,000/t ex-Gandhidham, supported by relatively stronger regional demand. Foundry-grade coke prices also held steady at approximately INR 36,400/t ex-Rajkot, backed by consistent demand from the foundry sector.

Indian HRC, CRC prices remain unchanged w-o-w - India's trade-level hot-rolled (HR) plate prices (IS2062, Gr E250 Br, 20-40 mm) remained unchanged across major markets during the week ended 1 July 2026. Prices in Mumbai were stable at INR 60,700/t ($637/t), while Delhi prices continued to hold at INR 60,000/t ($629/t). Market activity remained largely need-based, with subdued demand keeping overall sentiment cautious. All assessments are ex-Mumbai and exclude 18% GST.