Australia experienced its highest coking coal exports in six months during December

In December, the total coking coal exports reached 14.1 million tons, indicating a 9.3% increase from November's 12.9 million tons. During the same time period, shipments of hard coking coal (HCC) experienced a 5.5% y-o-y decrease but saw a 2.2% m-o-m increase, reaching 8.78 million tons. While HCC exports to India, the largest buyer, declined due to higher coking coal prices, this decrease was partially offset by a twofold surge in HCC exports to South Korea during the same month.

In 2023, Australia's overall exports witnessed a 5.8% y-o-ye decline, totaling 151.3 million tons. However, the Office of the Chief Economist (OCE) foresees an increase to 174 million tons in the fiscal year 2024-25.

In December, the average export price for Australian hard coking coal was $226.08 per metric ton, marking an 8.7% increase compared to the previous year.

The average export price for Australian semi-soft coking coal in December was $206.65 per metric ton, showing a decline of 18% compared to the previous year.