SMM Coal and Coke Daily Briefing: April 2, 2025

Published: Apr 2, 2025 17:06

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【SMM Coking Coal Daily Brief】 In terms of supply, coke enterprises maintained stable production, and downstream demand was released, leading to improved sales. Coke inventory at coke enterprises continued to decline. Demand side, the impact of the peak season was evident, with increased end-user orders and improved steel demand. Coupled with favorable profits, pig iron production at steel mills rose, increasing the rigid demand for coke. In summary, the rigid demand for coke from downstream increased, the fundamentals shifted towards balance, and market bullish sentiment grew. The coke market may remain stable this week.

SMM Daily Brief on Coal and Coke Market

Coking Coal Market:

The price of low-sulphur coking coal in Linfen was quoted at 1,300 yuan/mt. The price of low-sulphur coking coal in Tangshan was quoted at 1,340 yuan/mt.

Supply side, some mines suspended production, while the rest operated normally. Demand side, the recent continuous decline in coking coal prices has brought them to a low level, increasing the purchasing enthusiasm of downstream coke enterprises, steel mills, and traders, who have appropriately restocked. Online auctions for coking coal have warmed up, with auction prices rising more than falling, and the market transaction atmosphere has improved. In summary, coking coal prices may remain stable this week.

Coke Market:

The nationwide average price of first-grade metallurgical coke - dry quenching was 1,625 yuan/mt. The nationwide average price of quasi-first-grade metallurgical coke - dry quenching was 1,485 yuan/mt. The nationwide average price of first-grade metallurgical coke - wet quenching was 1,290 yuan/mt. The nationwide average price of quasi-first-grade metallurgical coke - wet quenching was 1,200 yuan/mt.

Supply side, coke enterprises maintained stable production, and with downstream demand being released, sales improved, leading to a continuous reduction in coke inventory. Demand side, the impact of the peak season was evident, with increased end-user orders and improved steel demand. Additionally, better profits led to an increase in pig iron production at steel mills, boosting the rigid demand for coke. In summary, the rigid demand for coke from downstream sectors has increased, the fundamentals have shifted towards balance, and market sentiment has turned bullish. Coke market prices may remain stable this week. [SMM Steel]

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

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