[SMM Daily Coke & Coal Brief Review] 20250627

Published: Jun 27, 2025 16:14

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[SMM Daily Briefing on Coke] In terms of supply, some coke enterprises suffered losses and implemented production cuts, leading to a slight tightening of coke supply. Additionally, market sentiment for stability has increased recently, and the shipment situation of coke enterprises has improved. On the demand side, steel mills' profitability has continued to improve, and the demand for coke has gradually picked up. Improved market expectations have driven a slight rebound in steel mills' enthusiasm for restocking, while controlling the arrival of goods. In summary, the fundamental contradictions in the coke market have decreased, and cost support has emerged. The short-term coke market may stabilize temporarily. [SMM Steel]

[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.

[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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