[SMM Coking Coal and Coke Daily Brief] 20260414

[SMM Coking Coal & Coke Daily Brief]

Coking coal market:

Linfen low-sulphur coking coal was quoted at 1,510 yuan/mt. Tangshan low-sulphur coking coal was quoted at 1,550 yuan/mt.

Coking coal side, most mines maintained normal supply. Recently, downstream buyers restocked on an as-needed basis, with relatively few new orders signed by mines. The auction market saw sluggish transactions, and some mines showed weakening performance in sales and online bidding. However, downstream restocking continued with rigid demand, and the coking coal market is expected to remain temporarily stable in the short term.

Coke market:

The nationwide average price of first-grade metallurgical coke (dry quenching) was 1,790 yuan/mt, quasi-first-grade metallurgical coke (dry quenching) 1,650 yuan/mt, first-grade metallurgical coke (wet quenching) 1,440 yuan/mt, and quasi-first-grade metallurgical coke (wet quenching) 1,350 yuan/mt.

In terms of supply, coking costs declined somewhat, coke enterprise profits recovered to some extent, and production remained relatively stable. Downstream demand for coke was strong, and coke enterprises maintained low coke inventory levels. Demand side, steel mill hot metal production increased slightly, with strong demand for coke. Some steel mills had relatively low coke inventory levels, showing urgency in coke procurement. Overall, coke fundamentals remained in a tight balance, and the coke market is expected to be generally stable with slight rise in the short term. Regarding the second round of coke price increase, coke and steel enterprises remained in a standoff. [SMM Steel]