【SMM Daily Briefing on Coke & Coal】May 6, 2025

Published: May 6, 2025 17:32

Save

[SMM Daily Review of Coking Coal and Coke] In terms of supply, most coking enterprises maintained normal shipments, with their own coke inventory remaining at pre-holiday levels, mainly operating at low levels. Demand side, steel mills' coke inventory was at a reasonable level, with a significant increase before the holiday. After the holiday, steel mills mainly purchased coke on a need-by-need basis. In addition, the second round of coke price increase proposals was shelved, with most market participants adopting a wait-and-see attitude, believing that the subsequent coke market was more likely to fall than rise. In summary, the coke market this week may remain in the doldrums.

[SMM Daily Commentary on Coking Coal and Coke]
Coking Coal Market:
In Linfen, low-sulphur coking coal is quoted at 1,310 yuan/mt. In Tangshan, low-sulphur coking coal is quoted at 1,370 yuan/mt.
In terms of fundamentals, most coking and steel enterprises have signed pre-sale orders for the Labour Day holiday. Coal mines are mainly executing previous contracts and have suspended online auctions during the holiday. Online prices of coal mines have also remained unchanged. However, trading volume has decreased after the holiday, and market activity is low. Market participants generally hold a bearish view on the market outlook. In summary, there is some downside room for coking coal prices this week.
Coke Market:
The nationwide average price of premium metallurgical coke (dry quenching) is 1,680 yuan/mt. The nationwide average price of quasi-premium metallurgical coke (dry quenching) is 1,540 yuan/mt. The nationwide average price of premium metallurgical coke (wet quenching) is 1,340 yuan/mt. The nationwide average price of quasi-premium metallurgical coke (wet quenching) is 1,250 yuan/mt.
In terms of supply, most coking enterprises maintain normal shipments, and their coke inventories remain at pre-holiday levels, mainly operating at low levels. In terms of demand, steel mills' coke inventories are at reasonable levels, with a significant increase before the holiday. After the holiday, steel mills mainly purchase coke on a need-by-need basis. In addition, the second round of coke price increases has been postponed, and most market participants are adopting a wait-and-see attitude, believing that the subsequent coke market is more likely to fall than rise. In summary, the coke market may operate in the doldrums 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.

For any inquiries or to learn more information, please contact: lemonzhao@smm.cn

For more information on how to access our research reports, please contact:service.en@smm.cn

Related News

Feb 6, 2026 18:30

Before the holiday, the black chain is unlikely to see a trend-driven market [SMM Steel Industry Chain Weekly Report].

This week, ferrous metals were in the doldrums, with coking coal and coke staging a mid-week rise. At the beginning of the week, financial markets experienced sharp fluctuations, dragging down sentiment in the ferrous chain and leading to a pullback in futures. Mid-week, Indonesia's cut to coke production quotas drove coking coal and coke futures to lead the gains, though the impact was more pronounced on thermal coal, while coking coal's rise was largely sentiment-driven and short-lived. In the latter part of the week, finished products continued their seasonal inventory buildup, and support from the raw material side weakened, causing the entire ferrous chain to pull back. In the spot market, with the Chinese New Year holiday approaching, purchasing activity slowed down further, with end-users only making limited, as-needed purchases at low prices.

Feb 6, 2026 18:30

Feb 6, 2026 18:09

MMi Daily Iron Ore Report (February 6)

Today, the DCE iron ore futures continued to hit bottom today, with the most-traded contract I2605 closing at 760.5 yuan/mt, down 1.23% from the previous trading day. Spot prices fell by 5–10 yuan/mt compared to the previous trading day.

Feb 6, 2026 18:09

Feb 6, 2026 17:41

[SMM Chromium Daily Review] Inquiries and Transactions Weakened, Chromium Market Showed Mediocre Performance Before the Holiday

[SMM Chrome Daily Review: Trading and Inquiries Weakened, Chrome Market Showed Mediocre Performance Before the Holiday] February 6, 2026: Today, the ex-factory price of high-carbon ferrochrome in Inner Mongolia was 8,500-8,600 yuan/mt (50% metal content), flat MoM from the previous trading day...

Feb 6, 2026 17:41