[SMM Coking Coal and Coke Daily Brief] 20260519

[SMM Coking Coal and Coke Daily Brief]

Coking coal market:

Linfen low-sulphur coking coal was quoted at 1,620 yuan/mt. Tangshan low-sulphur coking coal was quoted at 1,630 yuan/mt.

Coking coal side, mines were producing normally, and coking coal supply was relatively ample. The fourth round of coke price increases was initiated, stimulating market sentiment. Online auction transaction prices for coking coal were stable to stronger, but some high-priced coal grades continued to see failed auctions. Combined with declining coking coal and coke futures, wait-and-see sentiment persisted in the market.

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 enterprises maintained moderate profits, coke supply was stable with slight increases, and shipments were smooth with low in-house coke inventory. Demand side, steel prices recently pulled back with fluctuations, but current steel mill profitability remained good, hot metal output stayed at a relatively high level, and steel mills had strong procurement demand for coke. Overall, the coke supply-demand pattern was in a tight balance, and the coke market may hold up well in the short term. [SMM Steel]