[SMM Daily Review on Coal and Coke] 20250318

Published: Mar 18, 2025 17:06

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[SMM Daily Review on Coal and Coke] In terms of supply, most coke enterprises maintained production near the break-even point, with normal operations, and only a small number showed intentions to reduce output. On the demand side, steel mills saw an increase in pig iron production and daily coke consumption. Some steel mills began restocking coke through purchases while reducing controlled arrivals. Additionally, some traders made moderate purchases, leading to a moderate coke sales performance. In summary, the fundamentals of the coke market improved, market sentiment became more speculative, and the coke market is expected to remain stable this week.

Coking Coal Market:
The quotation for low-sulphur coking coal in Linfen was 1,300 yuan/mt, while in Tangshan it was 1,390 yuan/mt.

In terms of fundamentals, coal mines maintained normal operations, and coking coal supply remained stable. However, coke enterprises experienced moderate profits, and steel mill demand recovered slowly, primarily consuming previous inventories. Orders for certain coal mines improved slightly. Overall, the previously loose coking coal market showed some changes, with some coal mines approaching the cost line and demonstrating a strong sentiment to stand firm on quotes. In the short term, coking coal prices are expected to remain stable.

Coke Market:
The nationwide average price for Grade I metallurgical coke (dry quenching) was 1,625 yuan/mt, while for Quasi-Grade I metallurgical coke (dry quenching) it was 1,485 yuan/mt. The nationwide average price for Grade I metallurgical coke (wet quenching) was 1,290 yuan/mt, and for Quasi-Grade I metallurgical coke (wet quenching) it was 1,200 yuan/mt.

In terms of supply, most coke enterprises operated near the break-even line with normal production, and only a small number showed intentions to reduce output. On the demand side, pig iron production at steel mills increased, leading to higher daily coke consumption. Some steel mills began purchasing coke for restocking, reducing control over arrivals. Additionally, some traders made moderate purchases, resulting in moderate coke sales. Overall, the fundamentals of the coke market improved, with intensified market sentiment. The coke market is expected to remain stable this week. 【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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