[SMM coal and coke daily brief review] 20250530

[SMM Daily Briefing on Coking Coal and Coke Market]

Coking Coal Market:

In Linfen, the quoted price for low-sulphur coking coal is 1,230 yuan/mt. In Tangshan, the quoted price for low-sulphur coking coal is 1,280 yuan/mt.

In terms of raw material fundamentals, coal mines are operating normally, and there are no significant changes in the supply situation of the coking coal market. Currently, downstream market purchases are mostly delayed, and the spot sales of coking coal are sluggish. Traders are actively selling off their stocks to reduce inventory, leading to a further weakening of market sentiment. The online auction failure rate exceeds 50%. Next week, coking coal prices are expected to be in the doldrums.

Coke Market:

The nationwide average price for premium metallurgical coke (dry quenching) is 1,570 yuan/mt. The nationwide average price for quasi-premium metallurgical coke (dry quenching) is 1,430 yuan/mt. The nationwide average price for premium metallurgical coke (wet quenching) is 1,240 yuan/mt. The nationwide average price for quasi-premium metallurgical coke (wet quenching) is 1,150 yuan/mt.

In terms of supply, affected by shipping pressure, some coking enterprises have experienced inventory accumulation, and the coke supply is gradually becoming more relaxed. However, the losses of coking enterprises are still within an acceptable range, and their production enthusiasm remains moderate. In terms of demand, affected by the traditional off-season for steel consumption, the purchasing pace of steel mills has significantly slowed down, and they are mainly purchasing coke as needed. In summary, the market's bearish sentiment remains strong, and the coke market is expected to be in the doldrums in the short term. There is an expectation for a third round of price reductions for coke next week. [SMM Steel]