[SMM Coking Coal and Coke Daily Brief] 20260721

[SMM Coking Coal and Coke Daily Brief]

Coking coal market:

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

Coking coal, safety inspections remain stringent, and progress in resuming production at coal mines is slow. The tight supply situation for coking coal has not changed. Recently, the wait-and-see sentiment has been strong, some high-priced coal types still have expectations of price cuts, online auctions are sluggish, and transaction prices continue to pull back. In the short term, the coking coal market is likely to be in the doldrums.

Coke market:

Quasi-first-grade metallurgical coke, dry quenched, nationwide average price at 2,090 yuan/mt.

Supply side, most coke enterprises have certain profits and maintain operations at previous levels. However, in some regions, coke enterprises are under increasing pressure to ship, with coke inventory accumulating at plants, leading to higher sales pressure. Demand side, steel mill profits are poor, blast furnace production cuts and maintenance are further intensifying, coke rigid demand is under pressure and pulling back. Most steel mills are controlling the volume of coke purchases. In summary, market sentiment has turned cold, and the short-term coke market will be in the doldrums. The first round of coke price cuts is about to be implemented. [SMM Steel]