Metallurgical Coke Market Size & Share, by Ash Content (Low Ash Content, High Ash Content); Application; Product Type (Blast Furnace Coke, Foundry Coke, Technical Coke) - SWOT Analysis, Competitive Strategic Insights, Regional Trends 2025-2037

Metallurgical Coke Industry - Regional Synopsis

APAC Market Forecast

Metallurgical coke market in Asia Pacific is predicted to account for the largest share of 52% by 2037, impelled by the enormous production of metallurgical coke. China is a global leader in the production of metallurgical coke as over 60% of the world's metallurgical coke was produced in the country. Besides this, more than 8 million tons of cargo were registered in 2022, and around 5 million metric tons of metallurgical coke were exported from China in 2023 making it the leading seaborne exporter of the product. For instance, China's metallurgical coke production increased by over 3% annually to more than 477 million tons in 2021. India has observed a prominent spike in imports, ascribed to rising inbound shipments of flat products from Japan and ASEAN economies. However, the country’s export rate remains considerably low owing to export duties on steel enacted in 2022. This setback is triggered by export contraction to the EU and Vietnam.

In 2020, China was the leading coal supplier of coal and the government has crafted strategic mining rights for minerals, comprising coal, aluminum, chrome, antimony, cobalt, copper, gold, fluorspar, graphite, lithium, iron, molybdenum, nickel, natural gas, petroleum, potash, phosphorous, tungsten, tin, uranium, and zirconium. The Ministry of Natural Resources (MNR) assigned these as primary minerals eligible for mining rights registered with provincial governments or other lower levels of government. The coal generation was 3.89 Gt in 2020, a 1.0% rise from the earlier year, whereas the consumption surged by 4.1 Gt, a 0.6% spike. Of the total coal produced, 680 Mt was used for steel, 2.39 Gt was for electricity generation, 380 Mt was for construction material, 300 Mt was for the production of chemicals, and 320 Mt was for other purposes. Of the overall energy consumption in 2020, coal accounted for 56.8% and the leading import trade partners or suppliers were Indonesia (35%), Russia (15%), Australia (32%), Mongolia (12%), and Canada (2%). The revenue of the coal industry in China totaled $290 billion in 2020. According to the 2021 USGS Minerals Yearbook, metallurgical coke production was 471,160 metric tons in 2020 and in 2021, it was 464,458 metric tons.

Coke, metallurgical production capacity (Metric tons, gross weight), 2021

Source: USGS

North America Market Forecast

The North America metallurgical coke market is projected to garner a prominent revenue share by the end of 2037. The Canada steel sector uses 3.7 megatons (Mt) of metallurgical coke annually in its blast furnaces, according to the Government of Canada. The country’s mines yielded 47 million tons of coal in 2022, of which about 59% was metallurgical coal and 41% was thermal coal, playing a pivotal role in shaping the region’s market. The mined produce mainly came from British Columbia (59%), Alberta (28%), Saskatchewan (13%), and Nova Scotia (0.1%) in 2021. 

In six of the past seven years, the price of U.S. coal used for the steelmaking process has more than doubled compared to the price of U.S. coal used as a fuel for electricity generation, highlighting a historical pattern. In the past, U.S. metallurgical coal-which is mostly utilized as a raw material in the steelmaking process—has sold into export markets for more money than U.S. thermal coal, which is a significant fuel for the production of power. U.S. metallurgical coal sold for an average of 90% more than thermal coal between 2001 and 2023.

U.S. metallurgical coal export price rose sharply in 2022 after trade restrictions from Russia. This sustained cost divergence underscores differences in the two major markets catered to by the U.S. coal sector, comprising metallurgy and electricity. Metallurgical coal amounts to 10% of overall coal output, which primarily contributes to global outbound trade. On the contrary, thermal coal produced is consumed predominantly domestically. According to the EIA Annual Coal Report and Quarterly Coal Report, of the 67 million short tons of metallurgical coal generated in 2023, 51 million short tons or 76% was supplied to coke manufacturers and steelmakers worldwide, whereas the thermal coal was roughly 8% in exports of its annual U.S. production.

Average weekly coal commodity spot prices, in USD per mmbtu

Source: EIA

Between January and March 2024, production of U.S. coke was 2,730 thousand short tons, which increased to 2,781 thousand short tons during July-September the same year. 577,954 thousand short tons of coal was generated in 2023. Of this, 271,074 thousand short tons (46.9%) were sub-bituminous, 263,087 thousand short tons (45.5%) were bituminous, 40,876 thousand short tons (7.1%) were lignite, and 2,917 thousand short tons (0.5%) were anthracite. The country’s coal stocks were 163.2 MMst in 2023, 42.7% higher than in 2022. Furthermore, electric power coalstocks surged by 44.5 MMst in 2022 to 133.7 MMst in 2023.