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Petroleum Coke (Calcined) Pricing, Demand and Supply Overview
Calcined Petroleum Coke prices in South Korea, the standout market of the four regions tracked in this report, rose 2.6% in Q2 2026 to USD 595.00/MT from USD 580.00/MT in Q1, extending a sharp climb that saw CFR Busan prices jump 9.54% in Q4 2025 alone. Indian landed import prices rose 2.8% to USD 515.00/MT, continuing a steady multi-quarter ascent tied to tighter domestic supply and active import procurement by cement and calcined coke producers. Globally, the average rose from USD 515.18/MT in Q1 to USD 528.10/MT in Q2, a 2.5% gain, continuing the consistent upward trend that has characterized this market throughout the period. For H2 2026, a global average of USD 460.00-620.00/MT is expected, with firm aluminium smelter anode demand likely to keep this market on its established firming path.
Calcined Petroleum Coke is produced by heating non-calcined, or green, petroleum coke at temperatures approaching 1,300 degrees Celsius, driving off residual volatile matter and moisture to yield a higher-carbon, higher-density product suited for demanding industrial applications. It serves as the essential anode-grade feedstock for aluminium smelting, alongside use in titanium dioxide production, steel and graphite electrode manufacturing, and various specialty carbon applications. Because calcination is itself an energy-intensive process, this market's cost structure layers calcination energy costs on top of the underlying green coke feedstock market, meaning both natural gas prices and green coke availability influence pricing simultaneously. Green coke feedstock costs, calcination energy costs, and aluminium smelter anode demand are what drive prices in this market.
Petroleum Coke (Calcined) Price Forecast for 2026
The outlook for Calcined Petroleum Coke through H2 2026 stays firm, tracking sustained aluminium smelter anode demand alongside green coke feedstock costs that have themselves been rising on tighter refinery green coke generation. South Korea and India should continue leading regional gains given robust import procurement, while Chinese pricing is expected to track firm ex-works demand from domestic aluminium smelters and calcination facilities.
The main upside risk is a further tightening of green coke feedstock availability or rising calcination energy costs, which could push prices higher than currently forecast. The main downside risk is a slowdown in global aluminium smelting activity combined with easing green coke feedstock costs, which could ease the current firming trend across every region tracked here.
| Region | 2026 Price Range (USD/MT) | Outlook |
| Global Average | 460.00 - 620.00 | Firm aluminium smelter anode demand keeps this market on a firming path |
| South Korea | 550.00 - 650.00 | Standout regional gains sustain the highest price |
| India | 470.00 - 560.00 | Tighter domestic supply and active import procurement drive continued gains |
| United States | 450.00 - 530.00 | Steady Gulf Coast calcination capacity supports continued firmness |
| China | 460.00 - 545.00 | Firm smelter and calcination demand keeps this market steady |
For the Quarter Ending June 2026
Petroleum Coke (Calcined) Prices Q2 2026:
- South Korea: USD 595.00/MT
- India: USD 515.00/MT
- United States: USD 490.00/MT
- China: USD 500.00/MT
Petroleum Coke (Calcined) Prices in South Korea
South Korean CFR Busan Calcined Petroleum Coke prices averaged USD 595.00/MT in Q2 2026, the highest of any region tracked here, up 2.6% from USD 580.00/MT in Q1, extending the standout gains recorded across this market since late 2025.
Why did the price of Petroleum Coke (Calcined) change in Q2 2026 in South Korea?
Sustained demand from domestic aluminium smelters and specialty steelmakers, combined with tight regional calcination capacity, continued supporting this market's position at the top of the range tracked in this report.
Petroleum Coke (Calcined) Prices in India
Indian landed import prices averaged USD 515.00/MT in Q2 2026, up 2.8% from USD 501.00/MT in Q1, continuing a steady multi-quarter ascent tied to tighter domestic supply.
Why did the price of Petroleum Coke (Calcined) change in Q2 2026 in India?
Cement plants and calcined coke producers continued running steadily through the quarter, with a combination of rupee weakness and regulatory preference for lower-sulphur grades pushing buyers toward more expensive origins.
Petroleum Coke (Calcined) Prices in the United States
US CIF prices averaged USD 490.00/MT in Q2 2026, up 2.5% from USD 478.00/MT in Q1, as steady Gulf Coast calcination capacity continued supporting this market.
Why did the price of Petroleum Coke (Calcined) change in Q2 2026 in the United States?
Gulf Coast calciners continued running at high utilization, with export volumes to Asia remaining steady, supporting continued firm domestic pricing.
Petroleum Coke (Calcined) Prices in China
Chinese FOB prices averaged USD 500.00/MT in Q2 2026, up 2.0% from USD 490.00/MT in Q1, as firm ex-works demand from aluminium smelters and calcination facilities continued supporting this market.
Why did the price of Petroleum Coke (Calcined) change in Q2 2026 in China?
Firm ex-works demand from aluminium smelters and calcination facilities continued supporting this market, even as refiners' green coke feedstock generation remained a constraining factor on the cost side.
For the Quarter Ending March 2026
Petroleum Coke (Calcined) Prices Q1 2026:
- South Korea: USD 580.00/MT
- India: USD 501.00/MT
- United States: USD 478.00/MT
- China: USD 490.00/MT
Petroleum Coke (Calcined) Prices in South Korea
South Korean prices rose 3.2% in Q1 2026 to USD 580.00/MT from USD 562.00/MT in Q4 2025, extending the sharp gains recorded in the prior quarter.
Why did the price of Petroleum Coke (Calcined) change in Q1 2026 in South Korea?
South Korea was the standout market in Q4 2025, with CFR Busan prices hitting USD 562.00/MT in December, a 9.54 percent jump from the Q3 level, and that momentum continued supporting further gains into Q1 2026.
Petroleum Coke (Calcined) Prices in India
Indian landed prices rose 4.4% in Q1 2026 to USD 501.00/MT from USD 480.00/MT in Q4 2025, reflecting tighter domestic supply and active import procurement.
Why did the price of Petroleum Coke (Calcined) change in Q1 2026 in India?
India's Q4 2025 import price for calcined-linked petroleum coke reflected rupee weakness and regulatory preference for lower-sulphur grades, which pushed buyers toward more expensive origins, with cement plants and calcined coke producers running steadily through the quarter.
Petroleum Coke (Calcined) Prices in the United States
US CIF prices rose 3.9% in Q1 2026 to USD 478.00/MT from USD 460.00/MT in Q4 2025, tracking steady green coke feedstock cost pressure.
Why did the price of Petroleum Coke (Calcined) change in Q1 2026 in the United States?
The US CIF price captured the gap between export and import grades, reflecting transatlantic freight costs and quality adjustments, with Gulf Coast calciners running at high utilization and steady export volumes to Asia.
Petroleum Coke (Calcined) Prices in China
Chinese FOB prices rose 3.2% in Q1 2026 to USD 490.00/MT from USD 475.00/MT in Q4 2025, tracking firm smelter and calcination demand.
Why did the price of Petroleum Coke (Calcined) change in Q1 2026 in China?
China's FOB figure captured firm ex-works demand from aluminium smelters and calcination facilities that ramped procurement heading into the new year, tracking the broader Asia-Pacific firming trend.
Quarterly Petroleum Coke (Calcined) Price Trends
Global Calcined Petroleum Coke prices climbed steadily and consistently through every quarter tracked in this report, with South Korea posting the standout regional gain in Q4 2025, up 9.54 percent in a single quarter, as firm aluminium smelter anode demand combined with green coke feedstock cost pressure pushed prices to their highest levels of the period covered here.
| Quarter | Price (USD/MT) | QoQ Change | Direction |
| Q2 2026 | 528.10 | +2.5% | ↑ Rising |
| Q1 2026 | 515.18 | +3.6% | ↑ Rising |
| Q4 2025 | 497.06 | +5.7% | ↑ Rising |
| Q3 2025 | 470.04 | +5.0% | ↑ Rising |
| Q2 2025 | 447.50 | - | — Stable |
| Q3 2026 | In Progress | - | — In Progress |
What was Petroleum Coke (Calcined) Price in 2025?
Calcined Petroleum Coke firmed steadily and consistently across every market covered in this report through 2025, tracking sustained aluminium smelter anode demand and rising green coke feedstock costs, with South Korea posting the strongest annual gain of the four regions following its standout Q4 surge.
Petroleum Coke (Calcined) Prices in South Korea in 2025
South Korean prices surged from about USD 460.00/MT in Q1 2025 to USD 562.00/MT by Q4, a gain of roughly 22.2%, the strongest annual increase of the four regions, driven by the standout Q4 CFR Busan surge.
Petroleum Coke (Calcined) Prices in India in 2025
Indian landed prices firmed from about USD 420.00/MT in Q1 2025 to USD 480.00/MT by Q4, up roughly 14.3%, tracking tighter domestic supply and active import procurement through the year.
Petroleum Coke (Calcined) Prices in the United States in 2025
US CIF prices firmed from about USD 400.00/MT in Q1 2025 to USD 460.00/MT by Q4, a gain of roughly 15.0%, tracking steady Gulf Coast calcination capacity utilization.
Petroleum Coke (Calcined) Prices in China in 2025
Chinese FOB prices firmed from about USD 430.00/MT in Q1 2025 to USD 475.00/MT by Q4, up roughly 10.5%, the smallest annual increase of the four regions.
How We Can Help
Expert Market Research: Your Source for Real-Time Petroleum Coke (Calcined) Price Intelligence
Expert Market Research tracks Calcined Petroleum Coke prices continuously across every major producing and consuming region, combining green coke feedstock cost data, calcination energy cost signals, and aluminium smelter anode demand trends into a single, regularly updated view of the market. Our team can help your procurement function benchmark current offers, plan purchases around the consistent firming trends covered in this report, and build a defensible view of where this essential aluminium smelting feedstock is headed next. Reach out to our team for a tailored briefing or a deeper look at any of the regional markets covered here.
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Frequently Asked Questions About This Report
It serves as the essential anode-grade feedstock for aluminium smelting, alongside use in titanium dioxide production, steel and graphite electrode manufacturing, and various specialty carbon applications.
The Q2 2026 global average was USD 528.10/MT, ranging from USD 490.00/MT in the United States to USD 595.00/MT in South Korea.
The global average rose from USD 497.06/MT in Q4 2025 to USD 515.18/MT in Q1 2026 and then to USD 528.10/MT in Q2, continuing the consistent firming trend that has characterized this market throughout the period.
CFR Busan prices hit USD 562.00/MT in December, a 9.54 percent jump from the Q3 level, driven by sustained demand from domestic aluminium smelters and specialty steelmakers combined with tight regional calcination capacity.
The global average is expected in the USD 460.00-620.00/MT range, with firm aluminium smelter anode demand likely to keep this market on its established firming path.
The United States holds the lowest cost among the regions tracked here on a CIF basis, while South Korea carries the highest cost given standout regional demand.
This report is updated monthly. For real-time pricing intelligence, connect with the Expert Market Research team.
Green coke feedstock costs, calcination energy costs, and aluminium smelter anode demand.
The United States Gulf Coast and China both maintain substantial calcination capacity, while South Korea and India rely more heavily on imports to meet domestic aluminium smelting and industrial demand.
Buyers can monitor green coke feedstock availability and aluminium smelter demand trends given their outsized influence on this market, time forward purchases around the quarterly breakdowns in this report, and benchmark supplier quotes against the tracked price ranges appropriate to their sourcing basis.
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