[SMM Coking Coal and Coke Daily Brief] 20260522

[SMM Coking Coal and Coke Daily Brief]

Coking coal market:

Linfen low-sulphur coking coal was quoted at 1,600 yuan/mt. Tangshan low-sulphur coking coal was quoted at 1,630 yuan/mt.

Coking coal side, mine coking coal production remained stable, and coking coal supply was relatively steady. However, coking coal and coke futures weakened recently, market sentiment for coking coal cooled, traders and other intermediaries accelerated shipments, downstream buyers slowed down their procurement pace for coking coal, new orders at mines were mediocre, and coking coal inventory at mines in some regions accumulated. Prices were stable with a downward tendency, and the coking coal market may remain in the doldrums 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, coke production at coking enterprises remained stable, and shipments were relatively smooth, with their own coke inventory staying at low levels. Demand side, steel mill utilization rates remained high, and daily average hot metal output is still expected to increase going forward. Rigid demand for coke showed an increasing trend, but ferrous futures continued to decline recently, steel profit margins narrowed, and the steel market was already in the off-season for consumption, suppressing coke demand. Meanwhile, most steel mills had coke inventory at reasonable levels, showing low willingness to accept coke price hikes. In summary, the standoff between steel mills and coking enterprises will continue, and the coke market may remain temporarily stable next week. [SMM Steel]