[SMM Coking Coal and Coke Daily Briefing] 20260226

Published: Feb 26, 2026 17:12

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[Daily Review of Coking Coal and Coke by SMM] In terms of supply, coking plants maintained normal production during the Chinese New Year, but hindered transportation led to some accumulation of coke inventory. After the holiday, transportation gradually resumed, easing sales pressure on coking plants. On the demand side, some steel mills in Hebei have received notices for temporary voluntary emission reductions during the Two Sessions, and sales of finished products remain average, prompting steel mills to adopt a cautious stance toward coke procurement, resulting in controlled arrivals. Overall, market sentiment is dominated by wait-and-see, and the coke market may remain in the doldrums in the short term.

[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.

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

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