Coal prices showed a firm performance across several major markets during Q2 2026. Thermal coal recorded stronger gains as Asian utilities increased inventories ahead of the summer power-demand season. Geopolitical uncertainty, higher freight costs, supply restrictions, and strong demand from power generators supported the overall market. The api2 Coal Price History also helps buyers and traders understand how coal prices have changed over time and compare current market movements with earlier periods.
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The global coal market had different trends across thermal and metallurgical coal during the second quarter. Thermal coal prices increased more strongly, mainly because power producers in Asia were preparing for higher electricity demand. Some buyers also increased coal procurement as an alternative to expensive or uncertain LNG supplies.
Supply-side issues added further support to thermal coal prices. Export controls, weather disruptions, port delays, and transportation limitations reduced the availability of prompt cargoes in some important producing regions.
Metallurgical coal had a more moderate performance. Steelmakers in East Asia remained careful with raw material purchases because of pressure on steel margins. Many buyers preferred short-term or hand-to-mouth procurement instead of building large inventories.
Delivered coal prices, however, remained relatively firm. Higher ocean freight rates increased the landed cost of imported coal, while growing blast furnace capacity in India supported demand for imported coking coal.
South African RB1 coal prices increased by around 10.1% in Q2 2026. The rise was supported by steady export demand and consistent buying from important consuming markets.
Buyers continued to secure coal for near-term requirements because of concerns about logistics and seasonal disruptions. RB1 also remained useful for blending applications, which helped maintain procurement activity.
In June, RB1 prices increased by 1.38%. The monthly rise was moderate, but it showed that the market remained firm. Stable demand, controlled supply, and manageable prompt availability continued to support prices.
RB2 coal prices from South Africa increased by approximately 10.2% during Q2 2026. Demand from cost-sensitive industrial consumers in South Asia was an important factor behind this growth.
Many buyers considered RB2 an economical alternative to higher-calorific coal. This helped maintain activity at Richards Bay terminals.
Rail and logistics constraints also limited the availability of spot cargoes. In June, RB2 prices increased by 1.07% as industrial consumers continued purchasing according to immediate requirements. Tight prompt supply helped sellers maintain firm offers.
Australian PHCC coking coal prices increased by about 1.7% in Q2 2026. The growth was limited because steelmakers across East Asia remained cautious about procurement.
Steel mills focused on controlling raw material costs and preferred long-term contracts over aggressive spot purchases. At the same time, improved output from some Queensland mines kept the market adequately supplied.
In June, PHCC prices increased by 2.45%. Better sentiment in the global coking coal market and higher domestic coke prices in China supported the recovery. Indian steel mills also showed stronger spot interest, while improved pig iron production in Asia provided additional support.