[SMM Coking Coal and Coke Daily Brief] 20260512

[SMM Coking Coal & Coke Daily Brief]

Coking coal market:

Linfen low-sulphur coking coal was quoted at 1,590 yuan/mt. Tangshan low-sulphur coking coal was quoted at 1,630 yuan/mt.

Coking coal side, coal mines operated normally with no significant increase on the supply side. Coking coal inventory remained at low levels. Prices of some premium low-sulphur coal grades still saw slight raises. Market trading activity improved, but downstream acceptance of high-priced coal grades was moderate. Online auction results showed mixed performance. In the short term, coking coal prices are expected to be generally stable with slight rise.

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, with the third round of coke price increases implemented and chemical by-product prices continuing to rise, coke enterprises enjoyed good overall profits and maintained active production, with coke production steadily increasing. Demand side, steel mill hot metal output remained at high levels, providing support for rigid demand for coke. Meanwhile, HRC futures continued to strengthen recently, steel mill profitability recovered significantly, and their enthusiasm for coke procurement further increased. In summary, the coke supply-demand structure continued to maintain a tight balance, and the coke market is expected to be generally stable with slight rise in the short term. [SMM Steel]