[SMM Coking Coal and Coke Daily Brief] 20260408

[SMM Coking Coal & Coke Daily Brief]

Coking coal market:

Linfen low-sulphur coking coal was quoted at 1,510 yuan/mt. Tangshan low-sulphur coking coal was quoted at 1,600 yuan/mt.

Coking coal side, apart from a few mines that suspended production due to safety inspections, the rest operated normally. Downstream coke and steel enterprises, after earlier restocking, replenished coking coal inventory to reasonable levels, and procurement pace slowed down. A few mines saw slight inventory accumulation, but most mines faced no inventory pressure for the time being. In the short term, the coking coal market may trade in a range-bound pattern.

Coke market:

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

In terms of supply, coking costs declined slightly recently, and coke enterprise profitability recovered somewhat. Production remained relatively stable, and coke enterprises saw smooth shipments, with coke inventory showing a downward trend. Demand side, sales conditions in the finished steel market improved somewhat, and steel mill profits increased. Combined with the steady rise in daily average hot metal production at steel mills, rigid demand for coke strengthened. In summary, the fundamentals remained in a tight balance, and the coke market may hold up well and be generally stable with slight rise in the short term. [SMM Steel]