[SMM Coking Coal and Coke Daily Brief] 20260525

[SMM Coking Coal & Coke Daily Brief]

Coking coal market:

Linfen low-sulphur coking coal was quoted at 1,620 yuan/mt. Tangshan low-sulphur coking coal was quoted at 1,630 yuan/mt.

Coking coal side, a major coal mine accident occurred in Qinyuan County, Changzhi, Shanxi, causing the number of suspended coking coal mines in Shanxi to exceed 109. Coking coal production was severely affected this week, and the coking coal fundamentals shifted toward a tighter situation. Major mines raised their quotations significantly, and the coking coal market may hold up well in the short term.

Coke market:

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

News side, some steel mills raised wet-quenched coke prices by 50 yuan/mt and coke dry quenching prices by 55 yuan/mt, effective from midnight on May 26, 2026. In terms of supply, coking enterprises maintained profitability with moderate production enthusiasm, coke production remained relatively stable, and coking enterprises actively pushed shipments, keeping their own coke inventory at a reasonable level. Demand side, steel mill blast furnace daily average hot metal production continued to fluctuate at highs, providing strong rigid demand support for coke, but under the influence of the traditional off-season, steel mills' restocking pace slowed down somewhat. In summary, the coal mine accident increased coking costs, and the coke market may hold up well in the short term, with the fourth round of coke price increase set to be implemented soon. [SMM Steel]