[SMM Coking Coal & Coke Daily Brief]
Coking coal market:
Linfen low-sulphur coking coal was quoted at 1,510 yuan/mt. Tangshan low-sulphur coking coal was quoted at 1,550 yuan/mt.
On the coking coal front, safety inspections at mines remained strict, and production resumptions were slow. Affected by the unsuccessful coke price hike, coke and steel enterprises showed moderate purchasing enthusiasm. Spot coking coal prices lacked upward momentum. However, ferrous metals futures recently rose and online auction performance improved, so the coking coal market may remain stable in the short term.
Coke market:
The nationwide average price of first-grade metallurgical coke (dry quenching) was 1,790 yuan/mt. The nationwide average price of quasi-first-grade metallurgical coke (dry quenching) was 1,650 yuan/mt. The nationwide average price of first-grade metallurgical coke (wet quenching) was 1,440 yuan/mt. The nationwide average price of quasi-first-grade metallurgical coke (wet quenching) was 1,350 yuan/mt.
In terms of supply, market sentiment improved recently. Coke enterprises actively made shipments, and coke inventory at coke enterprises continued to decline. On the demand side, steel mills currently maintained high production enthusiasm, with daily average hot metal production continuing to increase, sustaining rigid demand for coke. However, steel mill profits were moderate recently, leading to poor acceptance of coke price hikes. Moreover, most steel mills purchased coke as needed, lacking willingness to restock. In summary, coke and steel enterprises will continue to negotiate, and the coke market may remain stable in the short term. [SMM Steel]
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