[SMM Daily Brief Review of Coking Coal and Coke] 20260402

[SMM Daily Brief Review on Coking Coal and Coke]

Coking Coal Market:

Linfen low-sulphur coking coal was quoted at 1,510 yuan/mt. Tangshan low-sulphur coking coal was quoted at 1,560 yuan/mt.

Coking coal, mainstream mines maintained normal production, but market sentiment pulled back recently, reducing acceptance of high-priced resources. Downstream procurement became more cautious overall, new orders at mines decreased, and some high-priced resources were forced to lower quotations to facilitate transactions. In the short term, the coking coal market may fluctuate.

Coke Market:

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

In terms of supply, coke producers had relatively good operating rates, and coke supply increased steadily. Downstream rigid demand for coke still existed, coke producers' shipments were relatively smooth, and there was no obvious inventory pressure for the time being. Demand side, the daily average hot metal output from steel mill blast furnaces increased, boosting rigid demand for coke. However, futures fell recently, and end-use demand still performed poorly, weakening market sentiment and reducing steel mills' purchase willingness. In summary, after the coke price hike, market sentiment weakened, and the coke market may remain temporarily stable in the short term.[SMM Steel]