[SMM Coking Coal and Coke Daily Brief] 20260708

[SMM Coke and Coking Coal Daily Briefing]

Coking Coal Market:

Low-sulphur coking coal in Linfen is quoted at 2,050 yuan/mt.

Coking coal side, supply disruptions at production sites are frequent, production resumptions are progressing slowly, and resources remain tight. Recently, arrivals at downstream coke enterprises have improved, and coupled with rising resistance to high prices, purchases by steel mills and traders are trending cautious. Coal mine shipments have weakened, and bids lack the momentum to rise. However, inventory at most mine sites is low, and mines are firmly holding prices steady, keeping mainstream coal prices free from significant declines, with only some high-priced coal undergoing slight corrections.

Coke Market:

The nationwide average price of quasi-first-grade metallurgical coke - dry quenching is 2,090 yuan/mt.

Supply side, coke enterprises currently have moderate profits, and production willingness has edged up slightly, keeping coke supply steady. However, arrivals at downstream steel mills have improved, and rigid demand for coke has weakened, with shipments from many producers slowing, causing supply-demand conditions to ease marginally. Demand side, the plum rain season has ended in east and south China, but high temperatures persist, and demand for finished steel has not recovered. Multiple rounds of coke price increases have squeezed steel mill profits, and with peak rigid demand having passed, steel mills are cutting purchase volumes. Overall, hot metal output is expected to pull back, and steel mills' purchase willingness is declining, so coke prices are likely to remain stable in the short term.[SMM Steel]