[SMM Coking Coal and Coke Daily Brief Commentary] 20260303

Published: Mar 3, 2026 17:15

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[SMM Daily Brief Review on Coking Coal and Coke] On the news front, some steel mills were expected to initiate the first round of coke price cuts this Friday, with a reduction of 50-55 yuan/mt. In terms of supply, coke producers hovered near the break-even line and barely maintained normal production; due to a slight inventory buildup, they were relatively proactive in shipments. Demand side, steel mills currently had limited profit margins and kept procurement cautious. In addition, with the Two Sessions about to convene, some steel mills had already prepared to implement blast furnace maintenance plans, reducing rigid demand for coke. Overall, steel mills’ willingness to seek profits from the raw material end continued to strengthen, and cost support might weaken. The coke market was likely to remain in the doldrums this week, with expectations of price cuts.

[SMM Coking Coal & Coke Daily Brief Review]

Coking coal market:

Low-sulphur coking coal in Linfen was quoted at 1,570 yuan/mt. Low-sulphur coking coal in Tangshan was quoted at 1,450 yuan/mt.

Coking coal, major producing-area mines basically resumed normal production, and coking coal supply increased steadily. Current market sentiment was generally cautious; new orders signed by mines were average, and inventory at some mines began to build up. Coking coal prices were under pressure, with expectations of a slight correction this week.

Coke market:

The nationwide average price of first-grade metallurgical coke (CDQ) was 1,790 yuan/mt. The nationwide average price of quasi-first-grade metallurgical coke (CDQ) was 1,650 yuan/mt. The nationwide average price of first-grade metallurgical coke (wet quenching) was 1,440 yuan/mt. The nationwide average price of quasi-first-grade metallurgical coke (wet quenching) was 1,350 yuan/mt.

In terms of news, some steel mills planned to initiate the first round of coke price cuts this Friday, with a reduction of 50-55 yuan/mt. In terms of supply, coke producers were near the break-even line and barely maintained normal production; due to a slight inventory buildup, they were relatively proactive in shipments. Demand side, steel mills currently had limited profit margins and kept procurement cautious. In addition, the Two Sessions were about to convene, and some steel mills had already prepared to implement blast furnace maintenance plans, reducing rigid demand for coke. Overall, steel mills’ willingness to seek profits from the raw material end continued to strengthen, and cost support may weaken. The coke market may remain in the doldrums this week, with expectations of price cuts.[SMM Steel]

Data Source Statement: Except for publicly available information, all other data are processed by SMM based on publicly available information, market communication, and relying on SMM‘s internal database model. They are for reference only and do not constitute decision-making recommendations.

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