[SMM Daily Review on Coal and Coke] 20250218

【SMM Daily Review on Coal and Coke】

Coking Coal Market:

The price of low-sulfur primary coking coal in Linfen was 1,400 yuan/mt. The price of low-sulfur primary coking coal in Tangshan was 1,450 yuan/mt.

In terms of supply, coal mines maintained normal production, and coking coal supply remained at a high level. Demand side, off-season steel demand was weak, downstream coke and steel enterprises faced poor profitability, mainly consuming previous inventories and showing a passive attitude toward coking coal purchases. In summary, coking coal prices may remain stable with a weak trend this week.

Coke Market:

The nationwide average price of Grade I metallurgical coke (dry quenching) was 1,735 yuan/mt. The nationwide average price of Quasi-Grade I metallurgical coke (dry quenching) was 1,595 yuan/mt. The nationwide average price of Grade I metallurgical coke (wet quenching) was 1,390 yuan/mt. The nationwide average price of Quasi-Grade I metallurgical coke (wet quenching) was 1,300 yuan/mt.

In terms of supply, coke enterprises maintained high operating rates, but due to passive purchasing by downstream sectors, some coke enterprises experienced inventory accumulation. Demand side, end-use demand recovered slowly, pig iron production at steel mills showed moderate growth, and recent coke purchases by steel mills were mainly on an as-needed basis. In summary, steel mills showed average purchasing enthusiasm, some coke enterprises continued to accumulate inventories, and the overall supply and demand for coke remained relatively loose. However, the ninth round of price cuts was officially implemented, and the coke market may remain stable with a weak trend this week. 【SMM Steel】