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Value-in-use metallurgical coal costs 2026

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Value-in-use (VIU) costs for seaborne export metallurgical coal in 2026 are on average 26% above unadjusted levels, lifting the 90th percentile cost by 23% to US$218/t. We estimate VIU costs across HCC, SCC and PCI, with the impact most pronounced for SCC and PCI due to their steeper quality discounts against the Queensland premium low-volatile hard coking coal benchmark.

Table of contents

  • Executive summary
  • Metallurgical coal VIU costs by country and company
  • VIU costs split by HCC, SCC and PCI
    • Metallurgical coal price assumptions Q2 2026

Tables and charts

This report includes the following images and tables:

    Metallurgical coal seaborne export total cash costs curve 2026 (VIU)Met coal seaborne export total cash costs 2026VIU met export production in the top decile (Mt)
    Average metallurgical coal seaborne export total cash costs by country 2026Average metallurgical coal seaborne export total cash costs by company 2026 (VIU) attributable basisHCC seaborne export total cash costs curve 2026 (VIU)SCC seaborne export total cash costs curve 2026 (VIU)PCI seaborne export total cash costs curve 2026 (VIU)Wood Mackenzie Benchmark HCC Price Assumptions (US$/t FOB Port)Other Metallurgical Coal Price Assumptions (US$/t FOB Port)Exchange Rate Assumptions (local currency unit per US$)

What's included

This report contains:

  • Document

    Value in use metallurgical coal costs 2026_final.xlsx

    XLSX 188.41 KB

  • Document

    Value-in-use metallurgical coal costs 2026

    PDF 1.14 MB