Platts assessed premium low-vol hard coking coal at $266.70 a tonne FOB Australia and $288.70 a tonne CFR China on 26 October, both unchanged from the previous assessment.
Ten of the 19 assessments moved, all by small amounts. CFR China prices were flat; PCI grades in Australia and most CFR India grades edged up.
FOB prices measure coal at the loading port; CFR prices include freight to the destination. The gap between the two is a rough pointer, not a freight rate, because assessments are not matched to one cargo.
Whether the small PCI gains spread to other grades, and how CFR India net-forward assessments move against Australian FOB levels.
| Grade | US$/t | Change |
|---|---|---|
| FOB Australia | ||
| Premium low-vol | 266.70 | 0.00 |
| Low-vol HCC | 230.10 | 0.00 |
| Low-vol PCI | 197.40 | +0.40 |
| Mid-vol PCI | 196.40 | +0.40 |
| Semi-soft | 163.00 | 0.00 |
| Premium low-vol HCC (China netback) | 266.55 | −0.10 |
| Premium low-vol, CFR NW Europe net forward | 289.25 | +0.20 |
| CFR China | ||
| Premium low-vol | 288.70 | 0.00 |
| Low-vol HCC | 252.10 | 0.00 |
| Low-vol PCI | 195.00 | 0.00 |
| Mid-vol PCI | 186.50 | 0.00 |
| Semi-soft | 149.50 | 0.00 |
| CFR India | ||
| Premium mid-vol | 294.00 | 0.00 |
| Mid-vol PCI, open origin | 221.70 | +1.00 |
| Premium low-vol, net forward | 292.00 | +0.20 |
| Low-vol HCC, net forward | 255.40 | +0.20 |
| Low-vol PCI, net forward | 222.70 | +0.60 |
| Mid-vol PCI, net forward | 221.70 | +0.60 |
| Semi-soft, net forward | 188.30 | +0.20 |
The benchmark grade was flat at both ends of the main trade route: premium low-vol hard coking coal stood at $266.70 a tonne free on board (FOB) in Australia and at $288.70 a tonne delivered to China (CFR).
Ten of the 19 Platts assessments moved on the day, all by small amounts. In Australia, low-vol and mid-vol PCI each rose by $0.40, to $197.40 and $196.40 a tonne, and the CFR North-West Europe net-forward premium low-vol price rose by $0.20 to $289.25. The China-netback premium low-vol assessment slipped by $0.10 to $266.55. Low-vol HCC ($230.10) and semi-soft ($163.00) were unchanged.
CFR China prices did not move at all: premium low-vol at $288.70, low-vol HCC at $252.10, low-vol PCI at $195.00, mid-vol PCI at $186.50 and semi-soft at $149.50 a tonne.
India was the most active market. Mid-vol PCI of open origin rose by $1.00 to $221.70, and all five net-forward assessments edged up: premium low-vol by $0.20 to $292.00, low-vol HCC by $0.20 to $255.40, low-vol PCI by $0.60 to $222.70, mid-vol PCI by $0.60 to $221.70 and semi-soft by $0.20 to $188.30. Premium mid-vol was unchanged at $294.00.
Hard coking coal is the main raw material for coke in blast-furnace steelmaking. PCI (pulverised coal injection) coal is a cheaper fuel injected into the furnace to reduce the amount of coke needed, which is why its price usually sits well below hard coking grades.
Source: S&P Global Platts, Asia Metallurgical Hard Coking Coal Assessments, 26 October 2026. Prices in US dollars per tonne; changes are against the previous assessment. Published with the permission of S&P Global Platts. Summary and wording by Megawise.
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