[SMM Daily Review on Coal and Coke] 20250307

【SMM Daily Review on Coal and Coke】

Coking Coal Market:

The price of low-sulphur coking coal in Linfen is 1,320 yuan/mt, while in Tangshan it is 1,390 yuan/mt.

In terms of raw material supply, recent coal mine operations focus on safety production, with no significant increase in supply. On the demand side, coke prices are still expected to decline, and downstream sentiment remains cautious, with purchasing as needed being the main approach. In summary, the coking coal market may operate stable with a weak trend in the short term.

Coke Market:

The nationwide average price of Grade I metallurgical coke (dry quenching) is 1,680 yuan/mt, while that of Quasi-Grade I metallurgical coke (dry quenching) is 1,540 yuan/mt. The nationwide average price of Grade I metallurgical coke (wet quenching) is 1,340 yuan/mt, and that of Quasi-Grade I metallurgical coke (wet quenching) is 1,250 yuan/mt.

In terms of supply, coke production at coke plants remains stable, and coke supply is still relatively ample. On the demand side, most steel mills in Tangshan have maintenance plans in the near term. If these plans are implemented as scheduled, steel mills' enthusiasm for coke procurement will further decline. In summary, demand is expected to weaken, coupled with the Two Sessions policies not exceeding market expectations. The coke market may operate stable with a weak trend in the short term, with the possibility of an eleventh round of price cuts next week. 【SMM Steel】