[SMM Coking Coal and Coke Daily Brief] 20260526

[SMM Coking Coal & Coke Daily Brief]

Coking coal market:

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

Coking coal side, a major mine accident in Changzhi, Shanxi led to strict enforcement of safety inspections. Major producing areas including Shanxi, Shaanxi, and Inner Mongolia all intensified safety inspections, with some mines proactively reducing production to cooperate with inspections, resulting in tightened coking coal supply. Currently, most mines had relatively low inventory levels, with some holding back from selling. Online auction activity heated up, and the coking coal market may hold up well in the short term.

Coke market:

The nationwide average price of quasi-first-grade metallurgical coke-coke dry quenching was 1,815 yuan/mt.

News side, mainstream steel mills in Hebei and Shandong accepted the fourth round of coke price increases, with wet-quenched coke raised by 50 yuan/mt and dry-quenched coke raised by 55 yuan/mt, effective from 00:00 on May 26, 2026. Supply side, with the fourth round of coke price increases implemented, most coke producers had moderate profits. However, coking coal prices are expected to rise, which may squeeze coke producers' profits. Coke producers showed lukewarm production enthusiasm, and coke supply remained stable for now. Demand side, steel futures pulled back notably, but steel mills' daily average hot metal production continued to fluctuate at highs, sustaining rigid demand for coke and willingness to restock. In summary, coke had strong cost support, and the fourth round of coke price increases has been fully implemented. The coke market may hold up well in the short term. [SMM Steel]