[SMM Coking Coal and Coke Daily Brief] 20260302

Published: Mar 2, 2026 17:15

Save

[SMM coking coal and coke daily brief] In terms of supply, the average profit per mt of coke is around the break-even point, with normal production. However, due to downstream wait-and-see sentiment and some steel mills controlling arrivals, the shipment pace of some coke enterprises has slowed down, leading to a continuous accumulation of coke inventory. On the demand side, the resumption of production at steel mills is slow, and their own coke inventories are at reasonable levels. Additionally, during the Chinese New Year, the accumulation of finished product inventory led to continuously compressed steel mill profits, resulting in mainly purchasing coke as needed. In summary, the willingness of steel mills to seek profit from the raw material end is increasing, and recently, cost support for coke may weaken. Therefore, the current market is characterized by a strong wait-and-see sentiment, and in the short term, the coke market is expected to be in the doldrums, with expectations of price reductions.

[SMM Daily Review on Coking Coal and Coke]

Coking Coal Market:

The quoted price of low-sulphur coking coal in Linfen is 1,570 yuan/mt, while in Tangshan, it is 1,450 yuan/mt.

In the coking coal sector, state-owned coal mines have largely resumed production, with private coal mines gradually returning to work. Supply is on the rise, yet downstream purchasing demand has not been released, resulting in weak enthusiasm for coking coal procurement. Spot market transactions remain sluggish, with most coal mines failing to secure new orders. In the short term, coking coal prices may be under pressure, with expectations of price reductions.

Coke Market:

The nationwide average price for first-grade metallurgical coke (dry quenching) stands at 1,790 yuan/mt. Quasi-first-grade metallurgical coke (dry quenching) averages 1,650 yuan/mt nationwide. First-grade metallurgical coke (wet quenching) has a nationwide average price of 1,440 yuan/mt, while quasi-first-grade metallurgical coke (wet quenching) averages 1,350 yuan/mt nationwide.

In terms of supply, the average profit per ton of coke for coking enterprises hovers around the break-even point, with normal production levels. However, downstream wait-and-see sentiment and some steel mills controlling arrivals have slowed the pace of shipments for certain coking enterprises, leading to a continuous accumulation of coke inventory. On the demand side, the current pace of steel mills' production resumptions is slow, and their coke inventories are at reasonable levels. Additionally, the accumulation of finished steel inventory during the Chinese New Year has continuously compressed steel mill profits, leading them to purchase coke as needed. In summary, steel mills' willingness to seek profits from the raw material side is growing, and the recent cost support for coke may weaken. Consequently, the market currently exhibits a strong wait-and-see sentiment, with the short-term coke market expected to be in the doldrums and face price reduction expectations. [SMM Steel]

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.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

2 hours ago

Market Gradually Digested Bearish Sentiment, Steel Prices May Hold Up Well Following Costs [SMM Steel Industry Chain Weekly Report]

This week, ferrous metals exhibited a pattern of initial weakness followed by strength. At the beginning of the week, after the U.S.-Iran peace talks failed to reach an agreement, the U.S. military announced it would impose a blockade on all maritime traffic in and out of Iranian ports, pushing international oil prices higher once again. Mid-week, disturbances from iron ore long-term contract negotiations intensified, with market rumors suggesting that restrictions on certain previously limited products had been partially lifted. Subsequently, news emerged of an unexpected shutdown at an Australian refinery, raising market concerns that a diesel supply deficit could trigger mine shutdowns, which in turn would lead to short-term supply tightening. Coupled with rising expectations of a second round of coke price increases, ferrous metals successfully rallied in the latter half of the week...

2 hours ago

3 hours ago

MMi Daily Iron Ore Report (April 17)

Today DCE iron ore futures exhibited a firm trend, with the most active I2609 contract ultimately settling at 778.5 RMB per tonne, representing an increase of 0.39 per cent from the previous trading session.

3 hours ago

[SMM Sheets & Plates Daily Review] Intraday HRC Prices Steady to Firm, Post-Rally Transactions Weakened

HRC prices first declined then rebounded this week, with the weekly average price edging up slightly and overall transactions improving WoW. Looking ahead, both supply and demand for HRC are expected to increase, the supply-demand imbalance is weakening, and cost support is expected to strengthen. In summary, the most-traded HRC contract is expected to hold up well within the 3,280-3,350 range next week.

3 hours ago