[SMM coal and coke daily briefing] 20250613

Published: Jun 13, 2025 17:07

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[SMM Daily Coke Market Briefing] In terms of supply, the national environmental protection checks team has been stationed in provinces such as Shanxi and Inner Mongolia, with environmental protection checks becoming stricter. Some coke enterprises have implemented phased production cuts, and some have slightly reduced production due to losses and inventory accumulation, leading to a tightening of coke supply. Demand side, the off-season in the market has led to a decrease in demand for finished steel products. Additionally, steel mills' coke inventory is at a medium-to-high level, lacking restocking demand. Some steel mills with high coke inventory are even controlling the arrival of goods. In terms of news, the US Department of Commerce announced that it will impose additional tariffs on a variety of steel household appliances starting from June 23, including "steel derivatives" such as dishwashers, washing machines, and refrigerators. In summary, downstream demand has weakened, coke supply is relatively loose, and there is an expectation of weakening cost support. Next week, there is an expectation of a fourth round of coke price cuts.

[SMM Daily Review of Coking Coal and Coke]
Coking Coal Market:
In Linfen, low-sulphur coking coal is quoted at 1,180 yuan/mt. In Tangshan, low-sulphur coking coal is quoted at 1,230 yuan/mt.
In terms of raw material fundamentals, some coal mines have halted production due to accidents, leading to a tightening in coking coal supply. However, the market sentiment remains bearish, with downstream buyers exercising caution in procurement. Online auction transaction prices are predominantly declining. Coal mine shipments have not improved, and inventory pressure remains significant. Next week, coking coal prices are expected to continue to decline under pressure.
Coke Market:
The nationwide average price for premium metallurgical coke (dry quenching) is 1,495 yuan/mt. The nationwide average price for quasi-premium metallurgical coke (dry quenching) is 1,355 yuan/mt. The nationwide average price for premium metallurgical coke (wet quenching) is 1,170 yuan/mt. The nationwide average price for quasi-premium metallurgical coke (wet quenching) is 1,080 yuan/mt.
In terms of supply, the national environmental protection inspection teams have been stationed in provinces such as Shanxi and Inner Mongolia, with environmental protection checks becoming stricter. Some coking enterprises have implemented phased production cuts, and some have reduced production slightly due to losses and inventory accumulation, leading to a tightening in coke supply. On the demand side, the off-season in the market has led to a decrease in demand for finished steel products. Additionally, steel mills' coke inventories are at a medium-to-high level, lacking restocking demand. Some steel mills with high coke inventories are even controlling arrivals. In terms of news, the US Department of Commerce announced that it will impose tariff hikes on various steel household appliances starting from June 23, including "steel-derived products" such as dishwashers, washing machines, and refrigerators. In summary, downstream demand has weakened, coke supply is relatively loose, and there is an expectation of weakening cost support. Next week, coke prices are expected to experience a fourth round of price reductions. [SMM Steel]

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