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Coking Coal Prices Surge 25%, Squeezing India's Steelmakers
Submitted By Charles Kennedy of OilPrice.com
Indian steelmakers are reeling from a jump in coking coal prices this year that is squeezing their margins and delaying capacity expansion in the steelmaking industry, analysts and industry executives tell Reuters.
India relies on imports for as much as 95% of its coking coal, or metallurgical coal, demand. Metallurgical coal is a grade of coal that is one of the essential raw materials in the steelmaking process. Also known as met coal, this type of coal contains more carbon, less ash and less moisture than thermal coal, which is used for electricity generation.
With India relying on coking coal imports for nearly all its demand, the supply disruptions this year and the surging prices have pressured Indian steel makers.
The price of premium coking coal freight on board (FOB) in Australia surged by 25% in the first seven months of this year compared to last year due to a series of supply disruptions, Banmeet Khurmi, metallurgical coal and coke market service lead at Sydney-based consultancy CRU told Reuters.
The price increase has been the result of slower ramp-up of new mines, higher prices due to the Iran war, supply disruptions at key producer Australia, and the deadly coal mine explosion in China’s Shanxi province that killed more than 80 people in the worst Chinese mining accident in years.
“Steelmaking coal prices strengthened from CY2025 levels as strong Indian import demand and supply disruptions tightened an otherwise balanced seaborne market,” mining giant BHP said in its Economic and commodity outlook this week.
India has expanded its steelmaking capacity to about 220 Mtpa in the financial year 2026, up 10% year-on-year, and is targeting 500 Mtpa by 2047, much of which will be blast furnace based, according to BHP.
Yet, analysts say that coking coal costs for Indian steelmakers are expected to remain elevated at least through the second half of the year amid supply losses from China and Australia. And the Indian industry will pay the higher costs of the key steel-making commodity without the ability to raise prices because of the Chinese competition, executives told Reuters.
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Poll Shows Voters Reject US-Israel Military Integration
Authored by Brett Wilkins via Common Dreams
A new poll of US voters published this week offers a warning for congressional lawmakers backing a plan to deepen military ties between the United States and Israel, finding that a clear majority of voters oppose the proposal—which some critics have called "treasonous."
The Data for Progress survey of 1,217 likely US voters—conducted August 3–7 for Demand Progress and the Institute for Middle East Understanding (IMEU) Policy Project—revealed that 61% of respondents oppose legislation in the National Defense Authorization Act (NDAA) for 2027 that would integrate Israeli weapons companies into the Pentagon at a level exceeding that of any other country. That figure rose to 78% among Democrats and 73% among independents.
via AFP“This poll is a flashing red warning sign for any member of Congress who supports the defense authorization bill,” Demand Progress senior policy adviser Cavan Kharrazian said in a statement. “A clear majority of voters do not support further integrating the Israeli military and Israeli military companies into the Pentagon, which the NDAA is set to do.”
The Republican-controlled House of Representatives voted last month 216-212, mostly along party lines, in favor of a record $1.15 trillion NDAA. The military spending bill contains Section 219, a provision that would create a US–Israel Defense Technology Cooperation Initiative, accelerating joint defense research, development, testing, and integration of technologies including artificial intelligence, missile defense, and counter-drone systems.
Reps. Thomas Massie (R-Ky.) and Ro Khanna (D-Calif.) submitted an amendment to strip Section 219 from the NDAA. The measure failed to pass.
Congresswoman Ilhan Omar (D-Minn.), who voted against the NDAA, described Section 219 as “an outrageous threat to our country’s security and autonomy.”
The Senate version of the military spending authorization bill has a related provision—Section 1217, the United States-Israel FUTURES Act—and the two chambers will need to reconcile their NDAA legislation before the final language is decided. Reconciliation is not expected to occur before November at the earliest.
“It’s time for Congress to listen to the American people for once, and not the same voices who always want to cut Israel a blank check,” Kharrazian said. That “blank check” has totaled more than $174 billion in non-inflation-adjusted aid since the modern state of Israel was founded in 1948.
The new poll found that 57% of respondents believe the Israeli military and Israeli weapons companies should not receive increased access to US military systems. Fifty-one percent said Israel benefits more from the US-Israel relationship, compared with just 12% who said the United States benefits more.
Although Republican voters support the Pentagon provision by a 16-point margin, when asked about it without additional context, they are considerably less enthusiastic about the idea of granting any foreign military special access, opposing it 62%-27%.
Forty percent of surveyed voters said they believe that the US-Israeli relationship is “too close,” compared with 42% who say it is “about right.” Among Democrats, 56% say relations are too close, versus just 23% who say about right. Twenty-two percent of Republicans and 43% of Independents said US-Israeli relations are too close.
Asked if they think President Donald Trump is too supportive of Israel’s right-wing government, 49% said yes, compared with only 33% who said the president is giving Israel the right amount of backing and just 8% who believe he’s not giving the key ally enough support.
Respondents’ views of Israel itself have deteriorated markedly, with 44% saying they now view the country less favorably than they did three years ago—compared with just 17% who say their views have improved amid the war of annihilation in Gaza that United Nations experts, human rights groups, and a South Africa-led case currently before the International Court of Justice call a genocide, as well as the wider Israeli occupation, colonization, ethnic cleansing, and apartheid in Palestine.
Looking only at the past six months, 41% of respondents said their view of Israel has become less favorable, versus 16% who say it has become more favorable. Among Democrats, the split is 56%-13%; among Independents it’s 42%-11%.
“Israel is a nation committing genocide that just dragged the American people into a disastrous war that is still hitting our pocketbooks,” IMEU Policy Project executive director Margaret DeReus said, referring to the Iran War. “Senators take an oath to do what is best for the American people above all; to uphold that oath, they must scrap this ridiculous proposal.”
“It is the height of absurdity,” DeReus added, “that Congress is even considering a proposal to become more entangled with the Israeli military and use our tax dollars to subsidize their weapons companies.”
Tyler Durden Thu, 08/20/2026 - 20:05