SMM Daily Coking Coal & Coke Market Review
Coking coal market:
The low-sulphur coking coal price in Linfen was quoted at 1,310 yuan/mt, while that in Tangshan stood at 1,370 yuan/mt.
Fundamentals-wise, mine production remained normal with relatively loose supply. Recent online auctions saw frequent price corrections, with some coal grades continuing to weaken. Downstream sentiment turned cautious, leading to reduced market activity and weaker trading momentum. Overall, coking coal prices are expected to weaken in the short term.
Coke market:
The nationwide average price of first-grade metallurgical coke (dry-quenched) was 1,680 yuan/mt, while that of quasi-first-grade (dry-quenched) reached 1,540 yuan/mt. First-grade metallurgical coke (wet-quenched) averaged 1,340 yuan/mt, with quasi-first-grade (wet-quenched) at 1,250 yuan/mt.
Supply side, coke plants maintained normal operating rates with stable production. Shipments ran smoothly, keeping coke inventory at low levels. Demand side, pig iron production fluctuated at highs, sustaining rigid coke demand. Steel mills showed strong purchasing enthusiasm ahead of the Labour Day holiday restocking needs. Overall, the coke market exhibits weak fundamental imbalance with limited cost support, and prices are likely to stabilize temporarily pre-holiday.
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