Coking coal naturally occurs in the crust of the Earth in the form of sedimentary rock. Coking coal can be defined as specific types of bituminous coals which are primarily utilised in the manufacturing of hot metal in a blast furnace.
This happens when coking coal is heated at extreme temperatures in the nonexistence of air or carbonization, softened, turned into liquid, and afterward re-solidifies into a hard, however, permeable mass called coke, which is predominantly employed in the production of hot metal in a blast, furnace. Certain special characteristics of coking coal permit the product to form coke. In addition, coking coal is also denoted as ‘metallurgical or met coal.
Australia and China are the leading coking coal-producing countries in the world.
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Key Details About the Coking Coal Price Trend:
Procurement Resource does an in-depth analysis of the price trend to bring forth the monthly, quarterly, half-yearly, and yearly information on the Coking Coal price in its latest pricing dashboard. The detailed assessment deeply explores the facts about the product, price change over the weeks, months, and years, key players, industrial uses, and drivers propelling the market and price trends.
Each price record is linked to an easy-to-use graphing device dated back to 2014, which offers a series of functionalities; customization of price currencies and units and downloading of price information as excel files that can be used offline.
The coking coal price trends, including India Coking Coal price, USA Coking Coal price, pricing database, and analysis can prove valuable for procurement managers, directors, and decision-makers to build up their strongly backed-up strategic insights to attain progress and profitability in the business.
Industrial Uses Impacting Coking Coal Price Trend:
- OJSC Raspadskaya Coal Company
- Goonyella Riverside Mine (BHP Mitsubishi Alliance)
- Saraji Coal Mine (BHP Billiton/Mitsubishi Alliance)
- Mitsui Coal Holdings Pty Ltd.
- Anglo American plc
- Mechel Group
- Mitsubishi Chemical Corporation
News & Recent Development
- March 23, 2023: One of Australia’s prominent resource companies, BHP, has declared its strategy to build an electric smelting furnace (ESF) in the country. The boiler could be fired using hydrogen, enabling it to substitute coking coal, which is now mined in Queensland to process iron ore. BHP is planning to collaborate with engineering company Hatch to design and construct a pilot plant that can manufacture steel using direct reduced iron (DRI) from Pilbara in Western Australia to successfully conclude their plan. This is the first time BHP has financed an iron ore processing plant in Australia.
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