Coal is a readily combustible black (or brownish black) sedimentary rock primarily composed of carbon. There are a various types of coal having different forms and significant variations in their qualities and impurities. Coking coal, also known as metallurgical coal, is used to produce coke. Coke is a fuel with a high carbon content and few impurities. It is made by heating coal in the absence of air. It is the solid carbonaceous material derived from destructive distillation of low-ash, low sulphur bituminous coal. Cokes made from coal are grey, hard, and porous. Coke can be formed naturally and commonly used form is synthetic. The form known as petroleum coke, or pet coke, is derived from oil refinery coker units or other cracking processes he primary source of carbon used in steelmaking.
In the year 2017, the global coking coal market was growing due to increase in steel production, rapid urbanization all over the world and increase in the GDP of economies. Significant growth in the market would be observed in future because of upcoming production projects. However, fluctuation in the market is expected due to transportation and infrastructure costs and volatile prices of coking coal.
China dominated the global coking coal market through increased production of coking coal from new mines in the region. The extensive demand and production of steel gave an upswing to coking coal production. Australia and the U.S. remained the major exporters of coking coal, whereas China, Japan, India and South Korea were the major importers in 2017.
The coking coal market remained fairly consolidated in 2017. BHP Billiton, Anglo American, Teck Resources and Mitsubishi Corporation were the major players in the market. Similar scenario was observed in traded coking coal market was well. Coal production in Australia, particularly coking coal, is dominated by global mining companies which include BHP Billiton, Anglo American and Rio Tinto.