SMM Coal and Coke Daily Briefing: April 24, 2025

SMM Daily Brief on Coal and Coke

Coking Coal Market:

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

Fundamentally, mines maintained normal operations, and supply remained stable. Downstream purchases were mainly based on previous orders, while traders were cautious in purchasing. New orders from mines were limited, and shipments were sluggish. Auction transaction prices declined, and the number of failed auctions increased, indicating a weakening spot market for coking coal. In summary, the coking coal market is expected to gradually weaken 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 had profit margins, leading to high production enthusiasm. Shipments from coke enterprises were smooth, and the supply-demand pattern for coke remained favorable. On the demand side, pig iron production at steel mills remained high, with daily average production at elevated levels, creating rigid demand for coke. In summary, the fundamentals of the coke market are generally healthy, but with insufficient cost support, the coke market is expected to maintain a stable pattern in the short term.