[SMM Coking Coal and Coke Daily Review] 20260831

[SMM Coking Coal and Coke Daily Review]

Coking coal market:

Linfen low-sulphur coking coal was quoted at 2,400 yuan/mt.

Coking coal side, progress in production resumptions at mines has been slow, and overall production release is limited. Mines currently have full order books, and most mines maintain immediate production and sales, with strong sentiment to hold prices firm and hold back from selling. Recent online auctions saw high-premium transactions, with transaction prices for multiple coal types repeatedly setting new phased highs. In the short term, the coking coal market will hold up well.

Coke market:

The nationwide average price of dry-quenched quasi-first-grade metallurgical coke was 2,200 yuan/mt.

In news, mainstream steel mills in Hebei and Shandong raised coke purchase prices (third round), with wet-quenched prices up 100 yuan/mt and dry-quenched prices up 110 yuan/mt. All the above are base prices on a delivered, tax-inclusive, acceptance-bill basis, effective from 00:00 on August 31, 2026. Supply side, coking costs at coke producers continued to rise, losses were widespread, and coke producers intensified voluntary production cuts; shipments from coke producers were smooth, coke inventories at plants destocked at an accelerated pace, and some coke producers held back from selling. Demand side, daily average hot metal production at steel mill blast furnaces remains at a relatively high level, providing effective rigid demand support for coke, and some steel mills accelerated their procurement pace. However, the recovery in end-user steel demand and trading volume has been limited, and steel mills mainly restocked coke on a rigid-demand basis. In summary, the coke market is holding up well, and the fourth-round price increase is highly likely to be implemented. [SMM Steel]