Thermal coal drifts lower on comfortable stockpiles into shoulder season
Well-supplied inventories and mild weather weighed on seaborne thermal coal, while coking coal held up on restocking by mills.
Benchmark: Premium hard coking coal, FOB Australia. The same tonne prices differently by origin — freight, quality, sanctions and policy set the differential. Deep dive →
| Origin | Basis | Price | vs benchmark | Market note |
|---|---|---|---|---|
🇦🇺 Queensland Australia · premium HCC reference | FOB DBCT | 262.00 | Benchmark | Peak coke strength — the quality benchmark |
🇺🇸 East Coast USA · swing exporter | FOB Hampton Roads | 250.00 | -12.00 (-4.6%)stable | High-vol grades; Atlantic freight advantage to Europe |
🇲🇳 Gobi Mongolia · China-only | DAP Ganqimaodu | 207.00 | -55.00 (-21%)narrowing | Landlocked — truck/rail to China at a structural discount |
Differentials are indicative desk assessments over the live benchmark — 90-day spread trend shown per origin.
Track physical flows on the live vessel map →Indicative term structure · Contango
Converted from 262.00 USD/t · indicative FX
Coking Coal is traded in the energy minerals segment, with price discovery referenced against SGX. The chart above shows the trailing indicative price path. Physical parcels of Coking Coal can be sourced or placed through the Off Market desk, listed openly on the Marketplace, or intermediated by a specialist broker.
Well-supplied inventories and mild weather weighed on seaborne thermal coal, while coking coal held up on restocking by mills.