[SMM Coking Coal and Coke Daily Briefing] 20260226

[SMM Coking Coal and Coke Daily Briefing]

Coking Coal Market:

Low-sulphur coking coal in Linfen was quoted at 1,570 yuan/mt. Low-sulphur coking coal in Tangshan was quoted at 1,450 yuan/mt.

Coking coal side, after the Chinese New Year, mines gradually resumed production, and coking coal supply gradually recovered. However, both supply and demand in the current market are in the recovery stage, transaction atmosphere was sluggish, buyers and sellers maintained a cautious sentiment, and coking coal prices were temporarily stable in the short term.

Coke Market:

The nationwide average price for first-grade metallurgical coke - dry quenching was 1,790 yuan/mt. The nationwide average price for quasi-first-grade metallurgical coke - dry quenching was 1,650 yuan/mt. The nationwide average price for first-grade metallurgical coke - wet quenching was 1,440 yuan/mt. The nationwide average price for quasi-first-grade metallurgical coke - wet quenching was 1,350 yuan/mt.

Supply side, during the Chinese New Year, coke enterprises maintained normal production; due to hindered transportation, their coke inventory accumulated somewhat. However, after the Chinese New Year, transportation gradually recovered, and the sales pressure on coke enterprises gradually eased. Demand side, some steel mills in Hebei had already received temporary voluntary emission reduction notices during the Two Sessions period, and finished steel sales were average, leading steel mills to adopt a cautious attitude towards coke procurement, with some controlling arrivals. In summary, market wait-and-see sentiment was heavy, and the coke market may operate in the doldrums in the short term.