[SMM Coking Coal and Coke Daily Brief Review] 20260316

[SMM Daily Brief Review of Coking Coal and Coke]

Coking coal market:

Linfen low-sulphur coking coal was quoted at 1,450 yuan/mt. Tangshan low-sulphur coking coal was quoted at 1,460 yuan/mt.

Coking coal, mainstream coal mines have basically resumed normal production, and the energy crisis caused by the US-Iran war still persists. The market remains relatively optimistic about energy commodities, and improved market sentiment has led some downstream enterprises to become more active in purchasing. Prices of some oversold coal varieties rebounded, while prices of most coal varieties stabilized, with expectations of a rebound later on.

Coke market:

The nationwide average price of first-grade metallurgical coke (dry quenching) was 1,735 yuan/mt. The nationwide average price of quasi-first-grade metallurgical coke (dry quenching) was 1,595 yuan/mt. The nationwide average price of first-grade metallurgical coke (wet quenching) was 1,390 yuan/mt. The nationwide average price of quasi-first-grade metallurgical coke (wet quenching) was 1,300 yuan/mt.

In terms of supply, with the conclusion of the Two Sessions, coke enterprises previously subject to production restrictions gradually resumed production, and losses per mt of coke remained within an acceptable range, leaving production sentiment moderate, while coke supply increased steadily. Demand side, with the conclusion of the country's important meetings, steel mills previously subject to production restrictions are expected to resume production, leading to some increase in coke demand. However, as no clear supportive policies emerged from the Two Sessions, market wait-and-see sentiment remained strong, and steel mills maintained a cautious attitude toward coke, mainly purchasing as needed. Overall, the coke market may remain temporarily stable in the short term. [SMM Steel]