Global coking coal prices fall to an eight-month low

Export prices for coking coal from Australia, which is an international benchmark, have fallen to a minimum since August 2022. This follows from the data of the Metals & Mining Intelligence (MMI) industry agency, which Vedomosti has reviewed.

Quotes began to decline in February. In particular, prices for premium low volatility coal fell by 37% from mid-February to early May to $232/t on a FOB (loaded on board) basis Australia. According to the Center for Price Indices (CPI) of Gazprombank, Russian export prices for coking coal also declined during this period. From February to April, quotations for coal grade GZh (one of the export benchmarks) fell by 25% to $174/t on an FOB Far East basis. And the Singapore Exchange index for coking coal, which is used to calculate the MET for coal in Russia, in the same period, according to Gazprombank’s CCI, fell by 19% to $261/t on an FOB Australia basis.