[SMM Coking Coal and Coke Daily Brief] 20260422

[SMM Coking Coal & Coke Daily Brief]

Coking coal market:

Low-sulphur coking coal was quoted at 1,530 yuan/mt in Linfen and 1,550 yuan/mt in Tangshan.

Coking coal side, affected by safety supervision disruptions, mine production changed relatively little. In addition, anti-involution efforts resumed, boosting market sentiment. Online auction transactions with price increases grew, and overall mine inventory continued to decline. In the short term, the coking coal market may hold up well with 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, quasi-first-grade metallurgical coke (dry quenching) 1,705 yuan/mt, first-grade metallurgical coke (wet quenching) 1,490 yuan/mt, and quasi-first-grade metallurgical coke (wet quenching) 1,400 yuan/mt.

Supply side, coke producers saw some recovery in profitability, with normal operating rates. Approaching the Labour Day holiday, coke producers' shipments were smooth, and coke inventory continued to decline. Demand side, driven by the rally in futures, the steel market recovered, and steel mill profits increased. Current overall production levels remained high, supporting solid rigid demand for coke. Additionally, approaching the Labour Day holiday, steel mills released some stockpiling demand. Overall, the coke supply-demand pattern continued to improve. Combined with the rally in futures, the short-term coke market may be generally stable with slight rise. [SMM Steel]