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[![Bulk carrier loading Australian coking coal beside stockpiles at a seaborne terminal](/images/uploads/8c6dc23f-6fbf-42ad-afbf-ff21aee4ffd0/news-hero-coking-coal-prices-diverge-between-australia-and-china-in-august-2026-1920x1080.jpg)](/images/uploads/8c6dc23f-6fbf-42ad-afbf-ff21aee4ffd0/news-hero-coking-coal-prices-diverge-between-australia-and-china-in-august-2026-1920x1080.avif "View image full size")

[Policy](/news/policy "Policy")

 10 min read

# Coking Coal Prices Diverge Between Australia and China in August 2026

![Portrait of Anders Bergström, steel industry reporter](/images/uploads/a7d8e5bc-7cdf-409b-913b-211e63e8c441/anders-bergstr-m-1920x1920.jpg)

By [Anders Bergström](/user-profile?u=ecd2792b-d763-4e58-8f37-3e98efa3cfbf "View the author's profile") Published August 12, 2026 in [Policy](/news/policy "Policy")

 Australian high-quality coking coal fell 10% to $214.9/t FOB by 7 August, while Chinese spot coal slipped 0.3% to $296.3/t EXW Anze. Shanxi mine disruptions

![Portrait of Anders Bergström, steel industry reporter](/images/uploads/a7d8e5bc-7cdf-409b-913b-211e63e8c441/anders-bergstr-m-1920x1920.jpg)

By [Anders Bergström](/user-profile?u=ecd2792b-d763-4e58-8f37-3e98efa3cfbf "View the author's profile")

Anders Bergström reports on steel and industry news — standards, trade policy, mills and supply, technology and the sector’s events. His work for Steel Equivalents focuses on what changes for engineers and buyers when a specification, a trade rule or a process route moves.

[More articles by this author](/news/author/anders-bergstrom "See all articles by this author") Published August 12, 2026 in [Policy](/news/policy "Policy")

 In this article

1. [August benchmarks split between Australia and China](/news/policy/coking-coal-prices-diverge-between-australia-and-china-in-august-2026#august-benchmarks-split-between-australia-and-china "August benchmarks split between Australia and China")
2. [China’s domestic market is being supported by supply concerns](/news/policy/coking-coal-prices-diverge-between-australia-and-china-in-august-2026#china-s-domestic-market-is-being-supported-by-supply-concerns "China’s domestic market is being supported by supply concerns")
3. [Australian seaborne coal remains under pressure](/news/policy/coking-coal-prices-diverge-between-australia-and-china-in-august-2026#australian-seaborne-coal-remains-under-pressure "Australian seaborne coal remains under pressure")
4. [July’s divergence set the starting point for August](/news/policy/coking-coal-prices-diverge-between-australia-and-china-in-august-2026#july-s-divergence-set-the-starting-point-for-august "July’s divergence set the starting point for August")
5. [The next price move depends on supply duration and demand follow-through](/news/policy/coking-coal-prices-diverge-between-australia-and-china-in-august-2026#the-next-price-move-depends-on-supply-duration-and-demand-follow-through "The next price move depends on supply duration and demand follow-through")

Global coking coal benchmarks diverged in early August, with high-quality Australian material falling 10% to $214.9/t FOB by 7 August 2026 while Chinese spot coal eased 0.3% to $296.3/t EXW Anze. The figures reported in [GMK Center’s August coking coal price update](https://gmk.center/en/news/global-prices-for-coking-coal-showed-mixed-trends-in-august/ "GMK Center’s August coking coal price update") point to two different market pressures: oversupply and weaker demand in the Australian seaborne market, and supply-disruption concerns in China.

## August benchmarks split between Australia and China

The early-August market did not produce a single global price direction. The high-quality Australian FOB benchmark declined sharply from 10 July, while the Chinese EXW Anze spot quotation was almost unchanged over the same comparison period. That divergence reflects differences in origin, quality, delivery basis and immediate supply conditions rather than a directly comparable transaction spread.

Coking coal market snapshot on 7 August 2026

$214.9/t High-quality coking coal, FOB Australia

$296.3/t Spot coking coal, China EXW Anze

-10% Australian benchmark change from 10 July

-0.3% Chinese spot change from 10 July

### Two benchmarks, different pressure points

The reported prices and market signals break down as follows:

Reported coking coal prices and market conditions on 7 August 2026
| Market and benchmark | 7 August 2026 | Change from 10 July | Market signal | Source |
|---|---|---|---|---|
| High-quality coking coal, FOB Australia | $214.9/t | -10% | Oversupply, more August and September cargoes, weaker demand | [Global prices for coking coal showed mixed trends in August](https://gmk.center/en/news/global-prices-for-coking-coal-showed-mixed-trends-in-august/ "Global prices for coking coal showed mixed trends in August") |
| Spot coking coal, China EXW Anze | $296.3/t | -0.3% | Supply-shortage concerns and disruption risks in Shanxi and Mongolia | [Global prices for coking coal showed mixed trends in August](https://gmk.center/en/news/global-prices-for-coking-coal-showed-mixed-trends-in-august/ "Global prices for coking coal showed mixed trends in August") |

The Australian quotation represents high-quality seaborne coal on an FOB basis, whereas the Chinese figure is a domestic spot price on an EXW basis. Procurement comparisons therefore need to retain the stated benchmark definitions; the numerical gap alone does not establish a quality-adjusted or delivered-cost differential.

The seaborne side of the comparison is represented by cargo availability at Australian export terminals:

[![Australian bulk terminal stockpiles beside a vessel loading coking coal](/images/uploads/cb733af9-91bb-4059-89d4-55ed06481e23/coking-coal-prices-diverge-between-australia-and-china-in-august-2026-australian-bulk-term-1920x1080.jpg)](/images/uploads/cb733af9-91bb-4059-89d4-55ed06481e23/coking-coal-prices-diverge-between-australia-and-china-in-august-2026-australian-bulk-term-1920x1080.avif "View image full size")

Australian seaborne coking coal prices fell as additional August and September cargoes met weaker demand.

## China’s domestic market is being supported by supply concerns

China’s coking coal market remained within a defined price range in late July and early August as participants received mixed signals about the next direction. According to the GMK Center report, concerns about a possible **supply shortage** have allowed Chinese miners to raise prices, even though the spot quotation at Anze was down slightly from 10 July.

### Disruptions in Shanxi and potential Mongolian risks

The supply-side developments identified in the report include several separate risks:

- Several mines in Shanxi province were shut for four days at the beginning of August after heavy rain caused power cuts. Operations resumed on 8 August.
- Shanxi Coking Coal Energy Group announced on 6 August that operations at the Xiqu mine had been suspended following a fatal accident.
- Potential disruption to Mongolian coal exports was linked to a fuel shortage in Mongolia.
- Beijing’s tightening of the criteria for approving new coal-fired power capacity added another policy signal to the market.

These developments do not represent one uniform supply shock. The Shanxi power interruptions were temporary and had been followed by a reported restart, while the Xiqu suspension was tied to a specific mine incident. Mongolian exports were described as a potential disruption rather than a confirmed interruption. That distinction matters when assessing whether the Chinese market’s supply concern is temporary, localized or capable of lasting longer.

The operational sensitivity of the Chinese benchmark is particularly clear in Shanxi, where short-term interruptions affected several mines while the Xiqu suspension created a separate uncertainty:

[![Shanxi coking coal mine entrance after heavy rain with stopped haul trucks](/images/uploads/d0746c6a-994b-4abc-b30a-68abb6457108/coking-coal-prices-diverge-between-australia-and-china-in-august-2026-shanxi-coking-coal-m-1920x1080.jpg)](/images/uploads/d0746c6a-994b-4abc-b30a-68abb6457108/coking-coal-prices-diverge-between-australia-and-china-in-august-2026-shanxi-coking-coal-m-1920x1080.avif "View image full size")

Mine interruptions in Shanxi became a central supply signal for China’s August coking coal market.

Why the Chinese quotation held comparatively firm

The Chinese spot price was supported by concern over supply availability, including temporary mine closures in Shanxi, the Xiqu suspension and possible disruption to Mongolian exports. The reported market level nevertheless remained 0.3% below 10 July.

## Australian seaborne coal remains under pressure

Australian seaborne coking coal followed a different path. Prices continued to decline from late July into early August because of **oversupply**, with more cargoes available for loading in August and September against weaker demand. The result was a 10% reduction in the high-quality FOB Australia quotation between 10 July and 7 August, taking it to $214.9/t.

The physical availability of cargoes is central to this assessment:

[![Australian coal export stockpiles and bulk carrier loading at a coastal terminal](/images/uploads/a0114038-1e7d-468e-a144-72623ffb7c32/coking-coal-prices-diverge-between-australia-and-china-in-august-2026-australian-coal-expo-1920x1080.jpg)](/images/uploads/a0114038-1e7d-468e-a144-72623ffb7c32/coking-coal-prices-diverge-between-australia-and-china-in-august-2026-australian-coal-expo-1920x1080.avif "View image full size")

Greater Australian cargo availability for August and September weighed on the seaborne benchmark.

There was still some support for the seaborne market. Chinese consumers made selective purchases of premium-grade coal during the previous week, according to the report. Those purchases provided a floor for part of the market, but they did not reverse the broader pressure created by additional cargo availability and weaker demand.

The forward direction therefore remains closely linked to Chinese operating conditions. The source identifies the duration of production disruptions in Shanxi as a key factor for future trends, while the Australian side remains exposed to the balance between available cargoes and demand:

> Future trends will depend on the situation in China, particularly the duration of production disruptions in Shanxi province.
>
> GMK Center market assessment

## July’s divergence set the starting point for August

The mixed August picture followed an already divided market in July. Coking coal prices fell during the first ten days of July as demand from China and India remained weak. Over the longer comparison from 12 June to 10 July, high-grade Australian coking coal declined 1.3%, while Chinese spot coking coal increased 1.7%, according to an [earlier July comparison of Australian and Chinese coking coal prices](https://coalzoom.com/article.cfm?articleid=43968 "earlier July comparison of Australian and Chinese coking coal prices").

### Purchase costs and spot prices tell different stories

China’s broader cost data also shows why the domestic market cannot be read solely from one spot quotation. China’s weighted-average coking coal purchase costs rose 8.72% year on year in the first half of 2026, while June costs increased 6.42% month on month, according to [CISA cost data reported by SteelOrbis](https://www.steelorbis.com/steel-news/latest-news/cisa-coking-coal-purchase-costs-in-china-up-872-percent-in-h1-2026-1469293.htm "CISA cost data reported by SteelOrbis"). These figures concern purchase costs rather than the 7 August EXW Anze spot benchmark, so they provide background on the cost environment rather than a direct substitute for the August quotation.

### Steel output adds another uneven demand signal

The steel-production backdrop was also mixed. World crude steel output from the 70 reporting countries reached 155.7 million tonnes in June 2026, up 1.7% year on year, while January-to-June output fell 0.7% to 931.5 million tonnes and Chinese production declined. That combination does not resolve the coking coal demand picture, but it is consistent with a market in which short-term production and purchasing signals are moving in different directions.

For coking coal participants, the comparison across July and early August is therefore less a straight-line price trend than a change in the balance of risks. Australian material moved lower as supply expanded relative to demand. Chinese material remained close to its July level because concerns over mine and export disruptions countered softer demand signals.

## The next price move depends on supply duration and demand follow-through

The available facts do not establish a firm direction for the rest of August. They do identify the operating and market indicators most likely to determine whether the current divergence persists:

- How long production interruptions in Shanxi last after the reported 8 August resumption at mines affected by power cuts.
- The operational status of the Xiqu mine after Shanxi Coking Coal Energy Group announced its suspension on 6 August.
- Whether Mongolia’s fuel shortage develops into an actual disruption to coal exports.
- Whether the greater availability of Australian cargoes continues through August and September.
- Whether Chinese consumers continue making selective purchases of premium-grade seaborne coal.
- Whether demand conditions in China and India strengthen after the weakness recorded in early July.

The two market narratives could converge if Chinese supply interruptions persist or if Australian demand improves. They could also remain separate if Shanxi operations normalize while Australian cargo availability stays high. At this stage, the source material supports conditional monitoring rather than a definitive price forecast.

Procurement reading

The August quotations should not be treated as one undifferentiated global coking coal price. The reported values refer to different origins, qualities, market locations and delivery bases, with supply conditions moving in opposite directions.

For steel buyers and raw-material analysts, the key distinction is between the **Australian seaborne balance** and China’s **domestic supply-risk premium**. August has so far shown that those forces can produce materially different price responses over the same period.

Key takeaways

- High-quality coking coal FOB Australia fell 10% from 10 July to $214.9/t on 7 August 2026.
- Chinese spot coking coal at EXW Anze was down only 0.3% over the same period, at $296.3/t.
- Australian prices were pressured by oversupply, greater August and September cargo availability and weaker demand.
- Chinese prices were supported by supply-shortage concerns linked to Shanxi mine disruptions, the Xiqu suspension and potential Mongolian export risks.
- The duration of Shanxi disruptions and the follow-through of Chinese purchasing will be central to the next market direction.

Coking coal prices entered August with opposing forces in play. Australian seaborne material weakened as cargo availability outpaced demand, while China’s spot market drew support from concerns over mine and export disruptions. The market will remain divided unless those supply risks, Chinese purchasing activity and Australian cargo availability begin moving in the same direction.

## Sources

1. [Global prices for coking coal showed mixed trends in August (gmk.center)](https://gmk.center/en/news/global-prices-for-coking-coal-showed-mixed-trends-in-august/ "Open source in a new tab: https://gmk.center/en/news/global-prices-for-coking-coal-showed-mixed-trends-in-august/")
2. [Global Prices For Coking Coal Fell During the First Half of July (coalzoom.com)](https://coalzoom.com/article.cfm?articleid=43968 "Open source in a new tab: https://coalzoom.com/article.cfm?articleid=43968")
3. [CISA: Coking coal purchase costs in China up 8.72 percent in H1 2026 (steelorbis.com)](https://www.steelorbis.com/steel-news/latest-news/cisa-coking-coal-purchase-costs-in-china-up-872-percent-in-h1-2026-1469293.htm "Open source in a new tab: https://www.steelorbis.com/steel-news/latest-news/cisa-coking-coal-purchase-costs-in-china-up-872-percent-in-h1-2026-1469293.htm")