[SMM Daily Coke & Coal Brief Review] 20250627

[SMM Daily Briefing on Coal and Coke]

Coking Coal Market:

Linfen's low-sulphur coking coal quoted at 1,180 yuan/mt. Tangshan's low-sulphur coking coal quoted at 1,180 yuan/mt.

In terms of raw material fundamentals, safety inspection protocols remain stringent. Shanxi Changzhi region implemented minor production cuts following a mine accident, leading to reduced coking coal supply. Online auctions showed overall positive trends, with price rebounds observed for certain coal grades as sales flowed smoothly. The coking coal market may experience temporary stability in the short term.

Coke Market:

Nationwide average prices: primary metallurgical coke (dry quenching) at 1,440 yuan/mt; quasi-primary metallurgical coke (dry quenching) at 1,300 yuan/mt; primary metallurgical coke (wet quenching) at 1,120 yuan/mt; quasi-primary metallurgical coke (wet quenching) at 1,030 yuan/mt.

Supply side: some coke producers facing losses implemented production cuts, resulting in slightly tighter coke supply. Market sentiment stabilized recently, with coke producers' sales conditions improving. Demand side: steel mills' profitability continued to recover, gradually boosting coke demand. Improved market expectations drove a slight rebound in steel mills' replenishment enthusiasm while controlling arrival volumes. Overall, fundamental contradictions in the coke market have eased, and cost support has emerged, suggesting temporary stability in the short-term coke market.