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Base Year
Historical Period
Forecast Period
Petroleum Coke prices in India, the highest-cost reporting region given landed freight and insurance premiums on seaborne imports, rose 2.8% in Q2 2026 to USD 515.00/MT from USD 501.00/MT in Q1, extending a steady upward trend on tighter domestic supply and active import procurement. South Korean prices rose 1.6% to USD 435.00/MT, while Chinese prices rose 2.0% to USD 400.00/MT on firm ex-works demand from aluminium smelters and calcination facilities. US Gulf Coast prices, the only region to have eased in the prior quarter, recovered 2.6% to USD 395.00/MT. Globally, the average rose from USD 429.34/MT in Q1 to USD 439.30/MT in Q2, a 2.3% gain. For H2 2026, a global average of USD 370.00-540.00/MT is expected, with steady export demand from Asian aluminium and calcination facilities likely to keep this market firm.
Petroleum Coke, in its non-calcined or green form, is a solid carbon byproduct of the oil refining process, produced during the delayed coking of heavy residual crude oil fractions. It serves as a critical fuel source in cement kilns and power generation, a feedstock for calcined petroleum coke production used in aluminium smelting anode manufacturing, and an industrial fuel in steel and other heavy manufacturing applications. Because green coke generation depends directly on refiners' crude slate choices, shifts toward lighter crude processing can meaningfully reduce feedstock-grade material availability even without any change in overall refining volumes. Refinery crude slate and coking unit utilization, aluminium smelting and calcination demand, and seaborne freight and insurance costs are what drive prices in this market.
The outlook for Petroleum Coke through H2 2026 stays firm, tracking steady export demand from Asian aluminium smelters and calcination facilities alongside constrained green coke generation where refiners continue favoring lighter crude slates. Gulf Coast calciners are expected to continue running at high utilization, with export volumes to Asia remaining steady, keeping the market from tipping into oversupply even as some year-end seasonal softness may reemerge.
The main upside risk is a further shift toward lighter crude slates at major refining centers, which would tighten green coke generation and feedstock-grade availability further. The main downside risk is a seasonal demand lull combined with thinning trading activity, similar to the pattern seen heading into the 2025 holiday period, which could introduce renewed softness, particularly in the US Gulf Coast market.
| Region | 2026 Price Range (USD/MT) | Outlook |
| Global Average | 370.00 - 540.00 | Steady Asian export demand keeps this market firm |
| India | 480.00 - 550.00 | Landed freight and insurance premiums sustain the highest price |
| South Korea | 410.00 - 460.00 | Firm CFR demand supports continued gains |
| United States | 370.00 - 420.00 | Gulf Coast supply-side tightness drives continued firmness |
| China | 375.00 - 425.00 | Firm smelter and calcination demand keeps this market steady |
Indian Petroleum Coke landed prices averaged USD 515.00/MT in Q2 2026, the highest of any region tracked here, up 2.8% from USD 501.00/MT in Q1, reflecting freight and insurance premiums on seaborne imports alongside tighter domestic supply.
Why did the price of Petroleum Coke change in Q2 2026 in India?
India's landed cost continued sitting at the top of the range tracked in this report, reflecting freight and insurance premiums on seaborne imports as active buyers continued procuring cargoes to reduce domestic surplus tightness.
South Korean CFR prices averaged USD 435.00/MT in Q2 2026, up 1.6% from USD 428.00/MT in Q1, as firm demand continued supporting gains.
Why did the price of Petroleum Coke change in Q2 2026 in South Korea?
Steady demand on a CFR basis continued supporting South Korean pricing, tracking the broader Asia-Pacific trend toward firmer import procurement.
US Gulf Coast prices averaged USD 395.00/MT in Q2 2026, up 2.6% from USD 385.00/MT in Q1, recovering after having been the only region to ease in the prior quarter.
Why did the price of Petroleum Coke change in Q2 2026 in the United States?
Gulf Coast calciners continued running at high utilization, with export volumes to Asia remaining steady, supporting a recovery after the modest softness recorded in the prior quarter tied to seasonal trading thinning and lower natural gas costs.
Chinese FOB prices averaged USD 400.00/MT in Q2 2026, up 2.0% from USD 392.00/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 change in Q2 2026 in China?
Firm ex-works demand from aluminium smelters and calcination facilities that ramped procurement continued supporting this market, even as refiners' crude slate choices kept feedstock-grade material availability constrained.
Indian landed prices rose 4.2% in Q1 2026 to USD 501.00/MT from USD 481.00/MT in Q4 2025, reflecting tighter domestic supply and active import procurement.
Why did the price of Petroleum Coke change in Q1 2026 in India?
India's landed cost of USD 501.00 per metric ton sat at the top of the range, reflecting freight and insurance premiums on seaborne imports, with Asia Pacific posting the sharpest upward movement in the price index as China and India both moved up on tighter domestic supply and active import procurement.
South Korean prices rose 2.1% in Q1 2026 to USD 428.00/MT from USD 419.00/MT in Q4 2025, tracking the broader Asia-Pacific firming trend.
Why did the price of Petroleum Coke change in Q1 2026 in South Korea?
South Korea recorded the widest regional gain on a CFR basis, tracking firm demand and the broader Asia-Pacific trend toward tighter feedstock-grade material availability.
US Gulf Coast prices eased 1.3% in Q1 2026 to USD 385.00/MT from USD 390.00/MT in Q4 2025, the only region to decline, as year-end trading thinned and lower natural gas costs eased calcination costs.
Why did the price of Petroleum Coke change in Q1 2026 in the United States?
US Gulf Coast prices eased modestly as trading desks thinned out heading into the holiday period, freight bookings became patchier, and some sellers offered discounts to clear tonnage rather than carry inventory, even as lower natural gas costs reduced calcination costs and gave calciners more pricing flexibility.
Chinese FOB prices rose 4.0% in Q1 2026 to USD 392.00/MT from USD 377.00/MT in Q4 2025, reflecting firm ex-works demand from aluminium smelters and calcination facilities ramping procurement heading into the new year.
Why did the price of Petroleum Coke 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, with exporters from India and Brazil also active buyers, further reducing domestic surplus in the broader export market.
Global Petroleum Coke prices firmed steadily through most of the period covered in this report, with a notably tighter Q3 2025 driven by refiners shifting toward lighter crude slates and cutting green coke generation, before a modest year-end softening in the US Gulf Coast market gave way to renewed firming across every region tracked here through the first half of 2026.
| Quarter | Price (USD/MT) | QoQ Change | Direction |
| Q2 2026 | 439.30 | +2.3% | ↑ Rising |
| Q1 2026 | 429.34 | +2.3% | ↑ Rising |
| Q4 2025 | 419.58 | +1.4% | ↑ Rising |
| Q3 2025 | 413.78 | +2.0% | ↑ Rising |
| Q2 2025 | 405.50 | - | — Stable |
| Q3 2026 | In Progress | - | — In Progress |
Petroleum Coke firmed steadily across every market covered in this report through 2025, with a notably tighter Q3 driven by refiners shifting toward lighter crude slates and cutting green coke generation, and China posting the strongest annual gain of the four regions as aluminium smelter and calcination demand continued expanding.
Indian landed prices firmed from about USD 450.00/MT in Q1 2025 to USD 481.00/MT by Q4, a gain of roughly 6.9%, reflecting steady freight-driven cost pressure on seaborne imports.
South Korean prices firmed from about USD 395.00/MT in Q1 2025 to USD 419.00/MT by Q4, a gain of roughly 6.1%, tracking firm regional CFR demand.
US Gulf Coast prices firmed from about USD 380.00/MT in Q1 2025 to USD 390.00/MT by Q4, up roughly 2.6%, the smallest annual increase of the four regions given the year-end softening.
Chinese FOB prices firmed from about USD 345.00/MT in Q1 2025 to USD 377.00/MT by Q4, up roughly 9.3%, the strongest annual increase of the four regions, tracking expanding aluminium smelter and calcination demand.
Expert Market Research: Your Source for Real-Time Petroleum Coke Price Intelligence
Expert Market Research tracks Petroleum Coke prices continuously across every major producing and consuming region, combining refinery crude slate and coking unit utilization data, aluminium smelting and calcination demand signals, and seaborne freight and insurance cost trends into a single, regularly updated view of the market. Our team can help your procurement function benchmark current offers, plan purchases around the firming trends covered in this report, and build a defensible view of where this essential refinery byproduct is headed next. Reach out to our team for a tailored briefing or a deeper look at any of the regional markets covered here.
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
It serves as a critical fuel source in cement kilns and power generation, a feedstock for calcined petroleum coke production used in aluminium smelting anode manufacturing, and an industrial fuel in steel and other heavy manufacturing applications.
The Q2 2026 global average was USD 439.30/MT, ranging from USD 395.00/MT in the United States to USD 515.00/MT in India.
The global average rose from USD 419.58/MT in Q4 2025 to USD 429.34/MT in Q1 2026 and then to USD 439.30/MT in Q2, continuing a steady firming trend across most of the period covered in this report.
India's landed cost reflects freight and insurance premiums on seaborne imports, distinct from the FOB and ex-works pricing that characterizes producing regions like the United States and China.
The global average is expected in the USD 370.00-540.00/MT range, with steady export demand from Asian aluminium smelters and calcination facilities likely to keep this market firm.
The United States holds the lowest cost among the regions tracked here on a Gulf Coast FOB basis, while India carries the highest cost given landed import freight and insurance premiums.
This report is updated monthly. For real-time pricing intelligence, connect with the Expert Market Research team.
Refinery crude slate and coking unit utilization, aluminium smelting and calcination demand, and seaborne freight and insurance costs.
The United States Gulf Coast is a major production hub, with China also a significant producer, while India and South Korea rely more heavily on imports to meet domestic aluminium smelting and calcination demand.
Buyers can monitor refinery crude slate decisions and Asian aluminium smelter demand 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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