[SMM Coking Coal and Coke Daily Brief] 20260821

[SMM Coking Coal and Coke Daily Review]

Coking Coal Market:

Linfen low-sulphur coking coal quoted at 2,070 yuan/mt.

Coking coal side, coal mine production resumptions are still constrained by strict safety supervision, and supply remains tight. Currently, most coal mines have low inventories, and the structural shortage of high-quality resources remains unchanged. In the online auction market, low auction failure rates coexist with high premium transactions. Next week, the coking coal market may continue to hold up well.

Coke Market:

Quasi-first-grade metallurgical coke - dry quenching nationwide average price is 1,925 yuan/mt.

Supply side, currently, the loss range of coke enterprises has further expanded, leading to an escalation in the intensity and scope of voluntary production cuts. Actual coke production continues to decline, and with increasing downstream procurement demand, previously accumulated inventories are being consumed. Demand side, recently, steel prices have been consolidating and strengthening. Meanwhile, maintenance at steel mills' blast furnaces has ended successively, and daily average hot metal production is gradually increasing, which increases rigid coke consumption. Some steel mills have started to release restocking demand, accelerating the procurement pace. In summary, next week the coke market is expected to hold up well, and the expectation for the first round of coke price increase to be implemented is relatively strong.[SMM Steel]