Metallurgical Coal Trading

Buy and sell physical cargoes of premium coking coal and PCI on globalCOAL's trading screen. – the only venue where physical metallurgical coal is bid, offered and traded in a fully transparent way.

Leading producers, consumers and traders of metallurgical coal worldwide rely on globalCOAL as a quick and easy route to spot and forward markets, and for access to the most reliable real-time met coal pricing information.

How does it work?

All bids and offers on the screen are for a standardised quality of coals, with standardised delivery terms, so prices are fully comparable.

Prices are firm, and visible to the entire market. When a trade is executed, email/SMS alerts disclose product, price, tonnage and delivery period (but not counterparty names).

Pricing points generated by trading activity feed into the market's most widely-used indices, improving their integrity and reliability.

Find out more about trading met coal online

What can you trade?

Index-linked and Fixed price trading available on screen


  • Premium mid vol hard coking coal
  • Delivered FOB Australia
  • 12.9 million tonnes traded to date
  • ~1,500 pricing points per year

HCCA is traded in two markets:

  • Branded: Must meet the HCCA quality specification, and be one of Illawarra, Goonyella, Moranbah North, Oaky Creek, North Goonyella (nominated after the transaction at the seller's option)
  • Goonyella-only option available
  • Unbranded: Any premium mid-vol coal that meets the HCCA quality specification – including those in the branded market – may be delivered.


  • Premium low vol hard coking coal
  • Delivered FOB Australia
  • One of 2 brands: Peak Downs or Saraji
  • 3.44 million tonnes traded to date
  • Can be traded as Peak Downs only, Saraji only, or either of the two (in which case the Brand will be nominated after the transaction at the seller's option)

Why join globalCOAL?

Be part of the world's largest community of met coal buyers, sellers and traders

Find a quick route to market for spot tonnage

Access real-time prices at your desk, or on the go via our mobile app

Enquire now about globalCOAL's met coal trading platform

N.B. All fields are required unless otherwise stated

Common questions

What is the quality of the coal? What are the delivery terms?

All trades on the platform are underpinned by SCoTA v.8a, globalCOAL's standard contract and a benchmark reference in the world of coal trading. In conjunction with an RSS (Relevant Standard Specification) specific to the product traded, SCoTA defines the quality and delivery terms and conditions so you can focus on negotiating what matters most: price and volume. Find out more about SCoTA.

What products can be bought and sold on the met coal screen?

Two types of metallurgical coal can be traded on globalCOAL – premium mid-vol and premium low-vol hard coking coals. For mid-vol, coals must meet the HCCA quality specification laid out in globalCOAL's Relevant Standard Specifications (RSS). This specification accommodates both a Branded and an Unbranded market. Both markets need to meet the HCCA specification, but coal traded on a 'Branded' basis also needs to be of a qualifying brand – namely, Illawarra, Goonyella, Moranbah North, Oaky Creek or North Goonyella. For low vol, two brands can be delivered in the contract, namely Peak Downs or Saraji. The brand can be specified pre-trade (as Peak Downs only or Saraji only), or left at the Seller's option (as Peak Downs or Saraji). See typical specifications for each of these brands.

What is PCI?

PCI stands for Pulverised Coal Injection. It is a process that involves blowing large volumes of fine coal granules into the blast furnace of steel mills, pig iron producers and pellet plants in order to improve performance or reduce metallurgical coke use.

If buying HCCA Branded coal or HCC-LV 'Any', when do I know which brand is being supplied?

The Seller must communicate which of the qualifying brands will be supplied no later than 20 days prior to the start of the Delivery Period.

Can I fix the loadport?

Yes. The loadport can be specified pre-trade as 'DBCT only', or left at the seller's option. Alternative delivery points allowed in the HCCA RSS include Hay Point Coal Terminal, or a coal loading terminal at one of Port of Abbot Point, Port of Gladstone or Port Kembla. For HCC-LV, alternative delivery points are Hay Point Coal Terminal, or a coal loading terminal at one of Port of Abbot Point or Port of Gladstone.

How much can I buy?

The minimum quantity is 35kt with a +/-10% tolerance. Many transactions are traded in panamax (75kt) quantities.

Is the final price adjusted for quality?

Yes. The invoice price is based on final quality at loadport, as per normal market practice. Price adjustments are made on the basis of specified parameters. In the case of HCCA, price adjustments apply to Total Moisture, Ash, Volatile Matter, Total Sulphur and Calculated CSR. In the case of HCC-LV, they apply only to Total Moisture, Ash, and Total Sulphur.

How can I be assured of the quality of the coal I will receive?

In HCC-LV, the seller is bound to deliver the agreed brand(s). The brand name must be evidenced on the shipping document.

In the HCCA contract, strict rejection limits and penalties laid out in the Relevant Standard Specification give buyers comfort on loaded quality. SCoTA contains clear contractual provisions for umpire analysis and rejection procedures. Additionally, the name of the brand will appear in the shipping documentation in the case of a Branded transaction.

How is the CSR calculated?

Predicted CSR will be calculated using a formula developed by ALS Global and globalCOAL. This formula has been developed from empirical coking data derived under standard testing conditions and regressed against corresponding coal specifications.

Can I conduct Additional Analysis on any met coal properties?

The Buyer may request Additional on the following elements or properties:

  • Mercury
  • Arsenic
  • Fluorine
  • Phosphorus
  • Chlorine

(effective end March 2017)