[SMM coal and coke daily briefing] 20250610

Published: Jun 10, 2025 17:10

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[SMM Daily Briefing on Coal and Coke] In terms of supply, after the third round of coke price cuts, some coke producers experienced minor production cuts due to losses, but most maintained normal production. In terms of inventory, coke producers faced difficulties in shipping their products, leading to a continuous accumulation of inventory. On the buyer side, steel mills' coke inventory was at a reasonable level, and they generally adopted a strategy of controlling purchase volumes and restocking based on demand. In summary, the supply of coke is relatively loose, and there is an expectation of further weakening in cost support. The market sentiment is bearish. This week, the coke market is expected to remain in the doldrums, with a fourth round of price cuts to follow.

[SMM Daily Briefing on Coking Coal and Coke Market]

Coking Coal Market:

In Linfen, the quoted price for low-sulphur coking coal is 1,190 yuan/mt. In Tangshan, the quoted price for low-sulphur coking coal is 1,280 yuan/mt.

On the raw material fundamentals side, some coal mines have halted or reduced production. Overall supply remains stable for now. The third round of price cuts for coke has been implemented. The purchasing pace of downstream terminals has slowed down, and the market is cautious about purchases. It has become more difficult for coal mines to sell their products. Even after the price reduction of spot coking coal, sales remain sluggish. The center of transaction prices in online auctions continues to move downward. The downward trend in the market has not yet ended. This week, coking coal prices may continue to be in the doldrums.

Coke Market:

The nationwide average price for first-grade metallurgical coke (dry quenching) is 1,495 yuan/mt. The nationwide average price for quasi-first-grade metallurgical coke (dry quenching) is 1,355 yuan/mt. The nationwide average price for first-grade metallurgical coke (wet quenching) is 1,170 yuan/mt. The nationwide average price for quasi-first-grade metallurgical coke (wet quenching) is 1,080 yuan/mt.

In terms of supply, after the third round of price cuts for coke, some coking enterprises have experienced minor production cuts due to losses. However, most coking enterprises have maintained normal production. In terms of inventory, coking enterprises are facing difficulties in selling their products, leading to a continuous accumulation of inventory. On the demand side, steel mills' coke inventories are at a reasonable level. They generally adopt a strategy of controlling purchase volumes and restocking mainly based on demand. In summary, the supply of coke is relatively loose, and there is still an expectation of weakening cost support. The market sentiment is bearish. This week, the coke market will be in the doldrums, and there will be a fourth round of price cuts in the future. [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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