SMM Coal and Coke Daily Briefing: April 22, 2025

Published: Apr 22, 2025 17:08

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【SMM Daily Review of Coal and Coke】 In terms of supply, coke enterprises still have profits, with good production enthusiasm, stable coke supply, and smooth shipments, keeping coke inventory at a low level. Demand side, pig iron production in steel mills remains high, creating a rigid demand for coke, but pig iron production is expected to peak, with most steel mills maintaining purchasing as needed. In summary, coke enterprises maintain a high level of operation, and the support from pig iron in downstream steel mills remains, with no significant imbalance in coke supply and demand. The coke market is expected to remain stable in the short term.

【SMM Daily Brief on Coal and Coke】

Coking Coal Market:

The low-sulphur coking coal in Linfen was quoted at 1,330 yuan/mt. The low-sulphur coking coal in Tangshan was quoted at 1,370 yuan/mt.

Fundamentally, coking coal supply remains normal, traders accelerated shipments, coke enterprises slowed down purchasing, new orders from mines were average, and inventory accumulated in some regions, with prices stabilizing or declining. In summary, the coking coal market is expected to remain stable in the short term.

Coke Market:

The nationwide average price of first-grade metallurgical coke - dry quenching was 1,680 yuan/mt. The nationwide average price of quasi-first-grade metallurgical coke - dry quenching was 1,540 yuan/mt. The nationwide average price of first-grade metallurgical coke - wet quenching was 1,340 yuan/mt. The nationwide average price of quasi-first-grade metallurgical coke - wet quenching was 1,250 yuan/mt.

In terms of supply, coke enterprises still have profits, production enthusiasm is good, coke supply is stable, and shipments are smooth, with coke inventory remaining low. On the demand side, pig iron production in steel mills remains high, creating rigid demand for coke, but pig iron production is expected to peak, and most steel mills maintain purchasing as needed. In summary, coke enterprises maintain high operating levels, and downstream steel mills' pig iron production continues to support, with no significant imbalance in coke supply and demand, and the coke market is expected to remain stable in the short term. 【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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