[SMM Coking Coal and Coke Daily Brief] 20260901

[SMM Daily Review on Coking Coal and Coke]

Coking coal market:

Linfen low-sulphur coking coal was quoted at 2,550 yuan/mt.

In terms of coking coal, mine production resumptions were still constrained by safety supervision, with limited actual effective growth. Coking coal resources remained tight, downstream buyers were actively purchasing, and mine sales were good. Some premium coal varieties still had expectations of price increases, and the coking coal market is expected to hold up well in the short term.

Coke market:

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

In terms of news, some regional steel mills raised wet-quenched coke prices by 100 yuan/mt and dry-quenched coke prices by 110 yuan/mt, effective from 00:00 on September 3, 2026 (the fourth round). In terms of supply, coke producers' costs continued to increase. Although the third round of coke price increases had been implemented, coke producers remained loss-making, with production under sustained pressure. Coke supply tightened, and coke inventories at coke producers continued to destock. In terms of demand, hot metal production at steel mills remained at a relatively high level, creating rigid demand for coke. As a result, some steel mills were actively purchasing and urging deliveries. In summary, with strong cost support and a tight fundamental backdrop, the coke market is expected to continue to show strong performance in the short term, and the fourth round of coke price increases is about to be implemented. [SMM Steel]