[SMM Coking Coal and Coke Daily Brief] 20260714

[SMM Coking Coal & Coke Daily Briefing]

Coking coal market:

Linfen low-sulphur coking coal is quoted at 2,020 yuan/mt.

For coking coal, safety inspections in Shanxi continue, with some mines still shut down, leading to slow overall capacity release. Coking coal supply remains tight, and mines have a strong willingness to hold prices firm, keeping mainstream coal prices largely stable for now. However, downstream sentiment is affected by concerns over high prices, and transaction prices for some coal grades in online auctions have been adjusted downward. The market trading atmosphere has weakened, inventories at some coal producers have edged up slightly, and market sentiment is poor.

Coke market:

The nationwide average price of quasi-first-grade metallurgical coke (dry-quenched) is 2,090 yuan/mt.

In terms of supply, coke producers’ profits have recovered to some extent, production is active, and coke supply has edged up slightly. However, downstream buyers purchase as needed, resulting in inventory accumulation at some coke producers. In terms of demand, finished steel prices have weakened, and mills’ margins have narrowed, leading to a gradual increase in mills undergoing production cuts and maintenance. Daily average hot metal output keeps declining, reducing daily coke consumption, and steel mills are cautious in purchasing and restocking. Overall, the tight coke supply situation has eased somewhat. In the short term, the coke market will remain stable, but as maintenance at steel mills gradually increases, rigid demand for coke weakens, and the market has certain expectations of a coke price cut. [SMM Steel]