[SMM Coking Coal and Coke Daily Briefing] February 28, 2026

Published: Feb 28, 2026 17:00

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[SMM Coking Coal and Coke Daily Brief] Supply side, most coking plants are operating normally, and production was basically stable. Currently, most coking plants remain near the break-even point, showing limited enthusiasm for increasing output. Demand side, the steel market is fluctuating, and steel mill coke inventory is at a reasonable level. Only a few steel mills are conducting small-scale rigid restocking, with overall purchasing demand for coke remaining cautious. In summary, the coke market is expected to operate in the doldrums next week, with expectations of a price decline.

[SMM Coking Coal and Coke Daily Briefing]

Coking Coal Market:

The low-sulphur coking coal offer in Linfen was 1,570 yuan/mt. The low-sulphur coking coal offer in Tangshan was 1,450 yuan/mt.

Coking coal side, mine production resumptions accelerated this week, coking coal supply increased, and some mines resumed production after the Lantern Festival, leaving room for further supply growth. Post-holiday market trading activity improved, but overall transactions were still dominated by rigid restocking demand, with widespread cautious market sentiment. Online auction prices fluctuated rangebound, and the overall price center edged down slightly.

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, most coke plants operated normally, with operations basically stable. Currently, most coke plants remain near the break-even point, showing low enthusiasm for production increases. Demand side, the steel market fluctuated, steel mill coke inventory was at a reasonable level, and currently only a few steel mills conducted small, rigid restocking, leading to cautious overall coke procurement demand. In summary, the coke market is expected to be in the doldrums next week, with price reduction expectations.

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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