China's Coking Coal Prices Post Record 46 Percent Monthly Surge

According to Oilprice.com, citing data compiled by Bloomberg, coking coal futures on China's Dalian exchange posted a record 46 percent monthly surge in August 2026, the biggest monthly gain since the contract began trading in 2013, surpassing the previous record of a 38 percent rise in July 2025. The rally followed the shutdown of some mines after a deadly accident in May and tighter safety inspections at other Chinese mines.

Bloomberg reported the price surge has spilled beyond China's borders, squeezing margins for steelmakers in India, the world's second largest steel producer, which relies on imports for 95 percent of its coking coal needs. Mining giant BHP said Indian import demand and supply disruptions, including those linked to the Iran war, have tightened the global coking coal market. The trend could affect raw material costs for the steel industry worldwide, including for Iranian steel exporters.