Chinese coke prices began rising in mid-April as producers faced growing pressure from higher imported coking coal costs. According to Kallanish, quotes for coke at the Zhizhao port increased by $1.4 per ton to reach $184/t FOT between April 11 and 18.
Coking Coal Prices Challenge Producer Margins
Despite this increase, the current price still stands $1.4 lower than early April levels. This slight rebound comes as Australian premium coking coal prices jumped by $14/t to $181/t FOB in the first half of April. The coal price surge stems from a temporary supply reduction, which narrowed profit margins for Chinese coke producers.
However, finished steel prices continue to fall, and this discourages steel mills from paying more for raw materials. While coke demand from steelmakers weakens, Chinese coal mines maintain their orders. Their stockpiles remain low, further stabilizing coke plant activity. In March, China’s coke production dropped 4.1% year-on-year, softening the price decline that occurred earlier in the month.
Indian Coke Market Holds Steady Despite Import Pressure
In contrast, Indian coke prices remained stable between $404–410/t EXW during the first half of April. However, prices surged by $46–52/t in Q1 2025, after India introduced quotas on duty-free coke imports. By mid-April, supply offers from China and Indonesia were priced around $350/mt CFR, slowing further domestic price increases.
Indian steelmakers, facing high local prices, began increasing imports. In March, India’s coke imports soared by 138% month-on-month to 232,000 tons. Poland was the primary supplier during this period.
A significant development came when the Indian government approved a duty-free import of 106,000 tons of coke by JSW Steel, including 66,300 tons from Indonesia. This precedent opens the door for similar requests by other producers.
Meanwhile, ArcelorMittal Nippon Steel India (AMNS India) warned that import restrictions could severely impact steel production. CEO Dilip Ummen noted that AMNS may idle a blast furnace in June or cut its usage in April if the situation persists.
As reported by SuperMetalPrice, the coke and coking coal markets in Asia remain highly volatile. Shifting trade policies and cost pressures continue to reshape supply chains and influence pricing across the region.
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