[SMM Coking Coal and Coke Daily Brief] 20260430

[SMM Coking Coal & Coke Daily Brief]

Coking coal market:

Linfen low-sulphur coking coal was quoted at 1,530 yuan/mt. Tangshan low-sulphur coking coal was quoted at 1,580 yuan/mt.

Coking coal side, most mines maintained normal production. With the Labour Day holiday approaching, downstream buyers continued to purchase, and fundamentals performed well. However, fear-of-heights sentiment emerged in the market, and prices of some coal grades that had risen significantly earlier pulled back slightly. Therefore, coking coal prices are expected to remain temporarily stable after the holiday.

Coke market:

The nationwide average price of first-grade metallurgical coke (dry quenching) was 1,845 yuan/mt. The nationwide average price of quasi-first-grade metallurgical coke (dry quenching) was 1,705 yuan/mt. The nationwide average price of first-grade metallurgical coke (wet quenching) was 1,490 yuan/mt. The nationwide average price of quasi-first-grade metallurgical coke (wet quenching) was 1,400 yuan/mt.

In terms of supply, coke producers maintained stable production, with solid cost support for coke. Additionally, shipments from coke producers were relatively smooth, and their own coke inventory showed a declining trend. Demand side, steel mills had certain rigid restocking demand for coke, but hot metal production pulled back slightly. Moreover, the steel market performed weakly, steel mill profitability was mediocre, and mills became cautious on coke procurement, with cases of controlling deliveries. In summary, coke fundamentals remained in a tight balance, and cost support persisted. Coke market is expected to be generally stable with slight rise after the holiday. [SMM Steel]