Australia increased coking coal exports by 19.5% y/y in September

In September 2024, Australia increased coking coal exports by 19.5% year-on-year – to 13.38 million tons. Compared to the previous month, these volumes fell by almost 0.8%, according to BigMint.

In September, the country increased the supply of this raw material to China by 27.8% compared to August – to 1.52 million tons, to Japan – by 8.4% m/m, to 2.89 million tons. At the same time, the export of coke of coal to India decreased by 14.3% m/m in this period – to 2.10 million tons.

Average Australian premium coking coal prices fell 9% month-on-month in September to $200/t CFR India.

The prices of these raw materials, in particular, fell amid weak sentiment in the metallurgical industry and a prolonged downturn in international coke markets, as well as increased supplies from Australia.

As GMK Center reported, that Australia reduced the forecast for the export of coking coal for the 2024/2025 financial year (ending in June 2025) to 161 million tons against the background of a decrease in the production of this raw material. In the previous, June forecast, the expected volume of exports in the specified period amounted to 172 million tons. It is predicted that the prices for this raw material will fluctuate at the level of $200/ton by 2026. Significant price fluctuations should be expected throughout the forecast period.

In January-September 2024, Australia increased export supplies of iron ore and pellets by 2.4% to 644 million tons.