[SMM Daily Coke & Coal Brief Review] 20250626

Published: Jun 26, 2025 17:25

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[SMM Daily Review of Coking Coal and Coke] In terms of supply, some coking enterprises are operating at a loss and have implemented production cuts, leading to a slight tightening of coke supply. Additionally, market sentiment has stabilized recently, and the sales situation of coking enterprises has improved. In terms of demand, steel mills' profitability continues to improve, and their demand for coke is gradually picking up. Their purchasing enthusiasm has increased, and the control over arrival volumes has decreased. In summary, the fundamental contradictions in the coke market have decreased, and cost support has emerged. The coke market may stabilize temporarily in the short term.

[SMM Daily Commentary on Coal and Coke]

Coking Coal Market:

In Linfen, the quoted price for low-sulphur coking coal is 1,180 yuan/mt. In Tangshan, the quoted price for low-sulphur coking coal is also 1,180 yuan/mt.

In terms of raw material fundamentals, the safety inspection situation remains strict. Due to a coal mine accident in the Changzhi area of Shanxi, there has been a slight production cut. Downstream inquiries and restocking have increased. Online auctions have shown mixed performance, with some coal types rebounding. In the short term, the coking coal market may operate steadily for now.

Coke Market:

The nationwide average price for first-grade metallurgical coke (dry quenching) is 1,440 yuan/mt. The nationwide average price for quasi-first-grade metallurgical coke (dry quenching) is 1,300 yuan/mt. The nationwide average price for first-grade metallurgical coke (wet quenching) is 1,120 yuan/mt. The nationwide average price for quasi-first-grade metallurgical coke (wet quenching) is 1,030 yuan/mt.

In terms of supply, some coking enterprises are experiencing losses and have implemented production cuts, leading to a slight tightening of coke supply. Additionally, the market sentiment has recently become more stable, and the shipment situation of coking enterprises has improved. On the demand side, steel mills' profitability continues to improve, and their demand for coke is gradually picking up. Their purchasing enthusiasm has increased, and the control over arrival situations has decreased. In summary, the contradictions in the coke market fundamentals have decreased, and cost support has become evident. In the short term, the coke market may operate steadily for now.

[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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