[SMM Coking Coal and Coke Daily Brief] 20260730

[SMM Coking Coal and Coke Daily Brief]

Coking Coal Market:

The quotation for Linfen low-sulphur coking coal is 2,020 yuan/mt.

On the coking coal side, safety supervision remains strict, limiting production release at coal mines. With the second round of coke price cuts taking effect, downstream buyers maintain a wait-and-see sentiment, and new orders at coal mines remain insufficient. Some high-priced coal types have room for marginal price declines. In the short term, the coking coal market is likely to remain in the doldrums.

Coke Market:

The nationwide average price of quasi-first-grade metallurgical coke (dry quenched) is 1,980 yuan/mt.

In terms of supply, the second round of coke price cuts has taken effect, pushing most coke enterprises into losses and leading to minor production cuts. However, coke shipments remain sluggish, resulting in varying degrees of in-factory inventory buildup. On the demand side, two rounds of coke price cuts have slightly eased steel mill losses, but off-season steel demand remains weak, and inventory pressure persists. Steel mills continue to control the pace of coke arrivals and attempt to push for further price reductions. Overall, the coke market faces significant supply-demand imbalances. In the short term, the coke market is likely to continue to be in the doldrums, with a potential third round of price cuts. [SMM Steel]