[SMM Coking Coal and Coke Daily Brief] 20260420

[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 1,550 yuan/mt.

Coking coal side, after the price adjustment, mine shipments remained stable. With stockpiling expectations emerging ahead of the Labour Day holiday, some mines slightly raised their quotes. In the short term, coking coal prices are likely to maintain a generally stable with slight rise trend.

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.

News side, the second round of coke price increase was officially implemented, with procurement prices raised by 50-55 yuan/mt, effective from 00:00 on April 20. In terms of supply, coke producers maintained moderate per-mt profitability, production stayed normal, shipments were smooth, and in-factory inventory mostly remained at low levels. Demand side, steel mill operating rates stayed high and stable, in-factory coke inventory continued to pull back, and demand for coke remained solid. However, steel mill profits had not seen significant recovery, and steel mills still showed resistance sentiment toward further coke price increases. Overall, the second round of coke price increase has been implemented, but the market is in a digestion phase. A third round of increase is unlikely to materialize in the short term, and the coke market is expected to hold up well going forward. [SMM Steel]