[SMM Coking Coal and Coke Daily Brief] 20260506

[SMM Coking Coal and Coke Daily Brief]

Coking coal market:

Linfen low-sulphur coking coal was quoted at 1,560 yuan/mt. Tangshan low-sulphur coking coal was quoted at 1,580 yuan/mt.

Coking coal side, safety inspections remained in place, and coal mine supply was stable. After the holiday, most downstream enterprises had certain purchase demand, but downstream acceptance of high-priced coal grades was low. Auction market transactions showed mixed performance. Currently, mines had smooth shipments overall, with their own inventory maintained at low levels. This week, some coal grades still had room for slight price increases.

Coke market:

The nationwide average price of first-grade metallurgical coke (dry quenching) was 1,845 yuan/mt. The nationwide average price of quasi-first-grade metallurgical coke (dry quenching) was 1,705 yuan/mt. The nationwide average price of first-grade metallurgical coke (wet quenching) was 1,490 yuan/mt. The nationwide average price of quasi-first-grade metallurgical coke (wet quenching) was 1,400 yuan/mt.

In terms of supply, coking costs were generally stable with slight increases, and coke enterprises had good shipments, with their own coke inventory falling to low levels and no sales pressure. Demand side, end-use demand for finished steel products had weakening expectations, and hot metal output was expected to see a slight correction this week, weakening rigid demand for coke. Steel mills had strong resistance to the third round of coke price increases. However, ferrous metals futures rose broadly today, and after consumption during the Labour Day holiday, some steel mills saw coke inventory declines. These steel mills were likely to accept the third round of coke price increases. In summary, coke and steel enterprises may continue to negotiate, and the coke market is expected to be generally stable with slight rise in the short term. [SMM Steel]