Teck doubles coking coal capacity from Ridley Terminals

Spanish Market: Coking coal
09/01/20

Canadian coking coal producer Teck Resources has signed an expanded commercial agreement with port operator Ridley Terminals to double coking coal throughput capacity from the Prince Rupert, British Columbia export terminal.

The agreement will enable Teck to increase exports from Ridley from 3mn t/yr to 6mn t/yr for 2021-27, with an optional expansion to 9mn t/yr. Teck said that the agreement will allow it to be more versatile in its coking coal exports from Canada's west coast and improve performance throughout the supply chain.

Teck ships most of its coking coal output through Ridley Terminals and Neptune Bulk Terminals in Vancouver for export. The company's coking coal production guidance for 2019 was 25.5mn-26mn t.

The Canadian government agreed last year to sell the majority of Ridley Terminals to a company owned by US investment firms Riverstone and AMCI.

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14/07/26

Australia's Gladstone coal exports rise in FY2025-26

Sydney, 14 July (Argus) — Australian producers exported 69.6mn t of coal from Gladstone port — Australia's largest coking coal export hub — in the financial year from July 2025 to June 2026, up by 8.3pc on the year as weaker demand from China and Vietnam was offset by stronger shipments to India and South Korea. The outlook for Australia's 2026 coking coal exports has been buoyed by favourable demand and price expectations . An El Nino event, which typically brings dry conditions across Queensland and limits rain-related disruptions, should aid supply over the next few months. Producers shipped 19.8mn t of coal to South Korea from Gladstone, up by 57.7pc on the year as South Korea sought to boost its stockpiles in early 2026, latest port data show. South Korea ramped up its coal procurement over January-April 2026 to accumulate stocks in response to the US-Iran war. Gladstone's coal shipments to South Korea were up by 179pc and 189pc, respectively, in April and May 2026 compared to the previous year, port data show. South Korea's finance ministry created a 400bn won ($277.48mn) export supply chain guarantee fund in November 2025 for the country's steelmakers, which could have contributed to coking coal demand. Higher automotive sector demand also supported the outlook for country's steelmakers in 2026. Producers shipped 12.7mn t of coal to India from Gladstone, up by 7.8pc on the year. Indian steelmakers have shifted away from Australian coal in preference for cheaper alternatives from Russia, Mozambique and the US. But the country's demand for seaborne coking coal is expected to ramp up as it aims to double its steel production capacity to 300mn t/yr by 2030, and reach 500mn t/yr by 2047. Gladstone's coal shipments to Vietnam fell by 6.2pc on the year to 3.8mn t over July 2025-June 2026. But steel demand in India and Southeast Asia is expected to grow over the medium term due to urbanisation, population growth, ongoing infrastructure and housing programmes, and growth in steel-intensive manufacturing, Australian government commodity forecaster the Office of the Chief Economist (OCE) said. Producers shipped 7.1mn t of coal from Gladstone to China, down by 30.5pc on the year. Chinese steelmakers' demand for Australian coking coal fell in 2025 due to high prices and occasional supply concerns. Chinese steelmakers are importing more coking coal from Mongolia and Russia due to their competitive pricing. Mongolian coal continues to attract Chinese end buyers due to its stable supply, logistics, and favourable pricing compared with other seaborne cargoes. Argus last assessed the price of hard coking coal fob Australia at $189.1/t on 13 July and premium hard low-vol coking coal fob Australia at $231/t on 13 July. By Emma Partis Gladstone export data mn t Destination Jul '25 - Jun '26 Jul '24 - Jun '25 YTD % ± China 7.1 10.2 -30.5 India 12.7 11.8 7.8 Japan 19.8 18.1 9.6 South Korea 15.6 9.9 57.7 Vietnam 3.8 4 -6.2 Total 69.6 64.3 8.3 *Total includes countries not listed Source: Gladstone Port Data Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

Australia’s Yancoal to shut Ashton coking coal mine

30/06/26

Australia’s Yancoal to shut Ashton coking coal mine

Sydney, 30 June (Argus) — Chinese-owned Australian producer Yancoal will close its Ashton underground coking coal mine in early 2028 due to geotechnical issues and market pressures, the company said on 30 June. Yancoal is commencing a staged closure of the mine because of significant technical challenges, operational risks and evolving market conditions, a spokesperson told Argus . The company has started an 18-month phased shutdown process, which it plans to complete in early 2028. Increasing input and regulatory costs will also impact Ashton's financial performance into the future, and combined, these factors are undermining the mine's viability as a sustainable ongoing operation, the spokesperson added. Ashton, situated in the Hunter Valley region of New South Wales, produced 1.1mn t of run-of-mine (ROM) coal in 2025. Yancoal produced 6.1mn t of coking coal in Australia in 2025. The closure process involves an initial reduction in planning and development activities, the completion of development mining in early 2027, and the shutdown of longwall mining in early 2028, the spokesperson said. About 60 mine workers face immediate job losses, the Mining and Energy Union (MEU) said on 30 June. Around 280 workers will lose their jobs because of the mine shutdown, Argus understands. By Emma Partis Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

Mexico central bank holds rates at 4-year low

26/06/26

Mexico central bank holds rates at 4-year low

Mexico City, 26 June (Argus) — Mexico's central bank (Banxico) on Thursday held its target interest rate at 6.5pc, its lowest level in more than four years, and signaled support for keeping rates unchanged through its outlook horizon as inflation slows. The unanimous decision to hold rates unchanged was the first since Banxico cut rates to 6.5pc on 7 May. The bank reduced the benchmark rate 450 basis points over 18 half- and quarter- point rate cuts made from a cyclical high of 11.25pc in March 2024. "The document confirmed the neutral stance by the central bank," said Mexican bank Banorte, as such, the bank affirmed its "call that the reference rate will remain unchanged at 6.50pc in the remainder of 2026 and throughout 2027." T he central bank made minimal changes to its statement, retaining forward guidance that underscores a neutral policy stance. "Looking ahead, the governing board believes it will be appropriate to maintain the reference rate at its current level," bank governors said. Banxico noted that headline inflation slowed to 3.55pc in mid-June from 4.45pc in April, with both core and non-core inflation easing. Banxico kept its forecast for both headline and core inflation to converge to its 3pc target in the second quarter of 2027. Banxico also toned down its discussion of risks from the US-Iran conflict, saying "recent negotiations suggest a solution is underway." The bank made only minor revisions to its inflation forecasts, lifting its headline estimate for the current quarter to 4.1pc from 4pc and making small upward adjustments to core inflation forecasts for the final three quarters of 2026. The board said inflation risks remain skewed to the upside. Mexican bank Banorte noted "a slight rearrangement" of those risks, highlighting the greater weight given to climate-related impacts, consistent with the formation of El Nino. By James Young Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

India's coking coal imports rise on year in May

24/06/26

India's coking coal imports rise on year in May

Mumbai, 24 June (Argus) — India's coking coal imports increased by 13pc on the year to 8.26mn t in May, according to data from shipbroker Interocean, supported by higher shipments from Australia, Mozambique and Canada. Imports from Australia, India's largest supplier, rose by around 60pc on the year to 4.37mn t. The higher import volumes partly reflected the receipt of delayed cargoes resulting from supply disruptions from Peabody's Centurion mine in Australia. The delays tightened seaborne supply availability and supported premium hard low-volatile coking coal prices during May. Indian steelmakers also increased purchases ahead of the monsoon season. Market participants said buyers largely prioritised securing through long-term contracts rather than sourcing volumes from the spot market. The Argus premium low-volatile hard coking coal index averaged $265.12/t cfr India in May, up by 30pc from a year earlier. But India's metallurgical coke imports fell by 17pc on the year to 247,402t in May. India's Directorate General of Trade Remedies (DGTR) on 29 April proposed reducing anti-dumping duties on low-ash metallurgical coke imports from China, Colombia, Indonesia, Australia, Russia and Japan for five years. Lower duties could improve the competitiveness of Indonesian coke in India and provide some support to producers. India's pulverised coal injection (PCI) imports declined by 12pc on the year to 470,437t in May. Australian shipments increased sharply, offsetting lower imports from Russia. Market participants said buyers adopted a more selective procurement strategy and reduced dependence on smaller suppliers. Meanwhile, India's crude steel output rose by 1.9pc on the year to 14.1mn t in May, according to World Steel Association data. By Romil Sethi India metallurgical coal imports ('000 t) Origin May'26 May'25 ± % Jan-May'26 Jan-May'25 ± % Coking coal Australia 4,370 2,734 60 15,103 12,133 24 US 865 1,290 -33 4,548 4,566 0 Canada 201 164 22 601 642 -6 Mozambique 503 518 -3 1,846 1,308 41 Indonesia 51 505 -90 798 1,313 -39 Russia 1,305 1,895 -31 6,172 5,526 12 Others 966 213 354 3,347 2,756 21 Total 8,261 7,319 13 32,414 28,244 15 Met coke Indonesia 149 121 23 1,150 523 120 China 0 33 -100 0 192 -100 Poland 69 107 -36 404 238 70 Colombia 0 36 -100 87 206 -58 Others 30 0 n/a 212 203 4 Total 247 297 -17 1,941 1,607 21 PCI Australia 152 25 507 1,320 1,119 18 Russia 319 477 -33 2,298 2,938 -22 Others 0 33 -100 178 1,144 -84 Total 470 535 -12 3,796 5,201 -27 Source: Interocean Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

US, Canadian coals find niches in global markets

23/06/26

US, Canadian coals find niches in global markets

Mumbai, 23 June (Argus) — North American coal occupies different positions in regional markets, with trade flows constantly adjusting in response to demand, freight costs and relative price competitiveness, producers told this month's Singapore Coking Coal Conference 2026. US producers have increasingly focused on India and Asia, where demand growth has been strongest, although high freight costs remain a key constraint. In periods of tight supply, customers are willing to absorb freight premiums to secure cargoes. However, in oversupplied markets, exporters may need to absorb the freight differential themselves, reducing margins and making sales less attractive. As a result, producers continue to maintain relationships with buyers in India and east Asia, while much of their sales to those regions currently conducted on a spot basis rather than through long-term contracts. Higher freight rates have also reinforced the competitiveness of US coal to Europe and South America, where suppliers often sell on a fob basis and do not directly bear freight costs. Canada seeking to expand premium coal production From Canada's perspective, producers argued that expanding metallurgical coal output would help support global steelmakers seeking to lower carbon intensity. Industry participants noted that both the Canadian federal government and provincial authorities have been supportive of expanding the sector and ensuring reliable supply to international markets. Industry re-examining coal quality metrics Panelists also discussed the importance of various coal quality characteristics and how different attributes can offset one another in steelmaking performance. The discussion highlighted that factors such as coke strength after reaction (CSR), coke reactivity index (CRI), ash content and sulphur content must be evaluated holistically rather than individually, as different combinations of properties can deliver similar blast furnace performance. Against this backdrop, market participants noted that pricing methodologies and benchmark specifications may need to evolve over time to reflect changing coal qualities and steelmaking practices, particularly as mills continue to optimise blends and broaden their use of different coal types. Freight headwinds add layer of uncertainty Freight dynamics are increasingly shaping raw material procurement strategies, with panelists highlighting transport costs as a growing influence on steelmaking economics. Freight rates from the US to India have risen significantly during the US-Iran conflict. Several market participants said rates for discharge cargoes to India have risen to $50-55/t from $40-45/t prior to the US-Iran war. Most Indian buyers remain cautious on the upside freight risks for a longer voyage under such circumstances. By Romil Sethi and Lisa Cheng Send comments and request more information at feedback@argusmedia.com Copyright © 2026. Argus Media group . All rights reserved.

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Teck doubles coking coal capacity from Ridley Terminals

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Australia's Gladstone coal exports rise in FY2025-26

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Mexico central bank holds rates at 4-year low

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