[SMM Coking Coal and Coke Daily Brief] 20260507

[SMM Coking Coal & Coke Daily Brief]

Coking coal market:

Linfen low-sulphur coking coal was quoted at 1,560 yuan/mt. Tangshan low-sulphur coking coal was quoted at 1,600 yuan/mt.

Coking coal side, most mines maintained stable supply, and post-holiday restocking demand from downstream was mediocre, with shipments pace from mines slowing down. However, most mines had relatively low inventory levels, and prices of most coal grades remained firm. Prices of some key coal grades rose by 20 yuan/mt, and coking coal prices may be generally stable with slight rise in the short term.

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, coking costs increased, squeezing coke enterprise profits. Currently, coke enterprises maintained normal shipments, and their own coke inventory remained at low levels, with coke production levels rising steadily. Demand side, steel mills currently maintained high production enthusiasm, and hot metal production declined slightly but remained at a relatively high level, sustaining rigid demand for coke. Moreover, finished steel prices rose notably after the holiday, expanding steel mill profits. In summary, the third round of coke price increase has not yet been implemented, with coke and steel enterprises continuing to negotiate. The coke market may be generally stable with slight rise in the short term. [SMM Steel]