Resource-Net estimates world coke trade at 7.8 million tonnes in Q3 2026, up from 7.6 million in each of the first two quarters. China shipped less, and drought on Sulawesi threatens Indonesian supply.
Q3 world coke trade rose to 7.8 Mt from 7.6 Mt, while Chinese exports fell 19% to 1.7 Mt and Chinese output slipped 5 Mt to 121 Mt.
Drought at four Sulawesi plants could cut Indonesian exports to under 0.5 Mt a month, against 0.8-0.85 Mt averaged over the prior six months.
Actual Sulawesi output and loadings, the pace of Chinese mine restarts, and Indian spot purchasing.
World coke trade rose slightly in the third quarter of 2026 even as Chinese exports fell, according to Resource-Net's October Coke & Anthracite Market Report. The headline looks stable, but the mix of suppliers is shifting.
Trade and China
Resource-Net puts Q3 world coke trade at 7.8 million tonnes, against 7.6 million tonnes in both Q1 and Q2. These are the firm's own estimates, not a customs-based total. Activity was softer in Europe and stronger in Asia and Brazil, with India, Indonesia and Vietnam supporting Asian demand.
China exported 1.7 million tonnes of coke in Q3, 19% less than in Q2, with most of this year's shipments going to other Asian markets. Chinese coke output was estimated at 121 million tonnes, 5 million tonnes below Q2. Resource-Net links part of the decline to coking-coal shortages tied to stricter mine inspections.
Prices
- Chinese coke prices rose sharply in September, then domestic prices fell about 5% in October.
- The indicative Chinese export range for 62% CSR blast-furnace coke eased to $305-315 per tonne FOB in October from $315-320 in September.
- Indian import indications were $340-345 per tonne CFR in October, $40 higher than a month earlier, though trading was thin.
Indonesian risk
Drought on Sulawesi has cut the water available for quenching at four coke plants. Their combined monthly export potential is estimated at 1.05-1.1 million tonnes, and exports averaged 0.8-0.85 million tonnes a month over the previous six months. Resource-Net says utilization could drop to 40-50%, which would imply under 0.5 million tonnes a month for the rest of 2026. This is a scenario, not an observed export outcome.
Steel backdrop
World pig-iron output was estimated at a seasonally adjusted annualized 1.19 billion tonnes in September, about 1% below August. Seaborne metallurgical coal trade was put at 75 million tonnes in Q3, marginally lower than in the previous two quarters.
Source: Resource-Net, Coke & Anthracite Market Report, October 2026. Summary and wording by Megawise.
Photos: Photo: Tim Evanson, CC BY-SA 2.0, via Wikimedia Commons
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