The growth of Asian coking coal prices slowed in February amid stabilizing supplies from Australia and the holiday season in China.

According to Kallanish, the price of high-quality coking coal FOB Australia as of February 13, 2026, was $252.8/t, which is 13.1% more than at the beginning of January (January 2), but 1.2% less than the previous week.

Spot prices for coking coal in China (EXW, Anze) on the same date were $227.5/t, slightly up from the previous week. As of January 2, prices were $214.25/t.

In January and early February, prices for Australian marine coking coal showed growth. Force majeure events in this country, related to weather and supply disruptions, limited supply, particularly of premium products. Although this situation is typical for the beginning of the first quarter, the market was still concerned about heavier than usual rains in Australia. Traders believed that sellers were dictating their terms to the market. However, in early February, the rise in prices for Australian raw materials stopped as supplies normalized.

At the same time, domestic prices for coking coal in China gradually increased in January amid the recovery of local production, growth in miners’ stocks, and increased purchases by coking plants and steel plants. However, at the beginning of February, activity began to decline due to the approaching holidays.

At certain times, prices in China were driven up by certain information circulating in the market. On February 5, contracts for coke and coking coal on the Dalian Commodity Exchange for May 2026, which are the most traded, according to Kallanish, rose by more than 3% from the previous day due to the spread of news that the Indonesian government was going to significantly reduce coal production quotas this year. However, in the following days, prices fell significantly when the country’s energy ministry announced that the industry’s work plans and budgets for 2026 had not yet been finalized. In mid-January, spot trading in coking coal intensified amid rumors of a reduction in production capacity in Shanxi province, which were soon refuted.

During the period from February 6 to 13, on the eve of the Chinese New Year, the coking coal market in China was stagnant. Massive shutdowns of both private and state-owned mines for the holidays led to a significant reduction in the production of this raw material. In addition, consumers and traders reduced their purchases, completing their pre-holiday stock replenishment.

Amid the Chinese holidays and increased supply during this period, prices for Australian seaborne coking coal also fell.

The Indian market remained calm in mid-February, as buyers were unwilling to accept higher prices amid expectations that supplies from Australia would normalize. The expected absence of Chinese buyers from the market also contributed to the restraint in quotations.

It should be noted that average annual prices for coking coal in 2025 fell significantly compared to the previous year, indicating weak market conditions and weakening consumer demand, which put increased pressure on suppliers.