India anchors global met coal demand

India drives global seaborne met coal demand, importing 85 Mt in 2025, mainly for integrated steel producers. An 18 Mt rise in hot metal output since 2021 has strengthened its role as a global clearing market. Supply is led by Australia and Russia, though diversification is rising. Planned 30 Mt capacity by 2030 and east coast growth will sustain demand, supporting gains for Russia and Indonesia alongside Australia. In this insight, we cover the following: • Met coal trade: How will India’s role as a global clearing market evolve with diversified suppliers and changing contract structures? • Met coal blends: Can higher PCI and mid-vol coal usage optimise costs without affecting furnace efficiency or steel quality? • Met coke margin and trade: How will policy shifts, import restrictions, and price volatility impact margins and competitiveness? • Met coal outlook: Will capacity additions and infrastructure shifts sustain demand while reshaping supplier shares and trade flows?