[SMM Daily Coke & Coal Briefing] 20250708

[SMM Coal & Coke Daily BriefZ2/> Coking Coal Market:

Linfen low-sulphur coking coal is quoted at 1,180 yuan/mt. Tangshan low-sulphur coking coal is quoted at 1,200 yuan/mtZ4/> In terms of raw material fundamentals, some suspended coal mines have resumed production, and coking coal supply is expected to increase. Downstream procurement demand exists, supporting firm coking coal prices. Some high-quality coking coal varieties are still expected to rise, but with poor profitability of downstream coke enterprises and before coke prices increase, there is limited room for a short-term rise in coking coal prices.

Coke Market:
Grade 1 metallurgical coke (dry quenching) nationwide average price is 1,440 yuan/mt. Quasi-Grade 1 metallurgical coke (dry quenching) nationwide average price is 1,300 yuan/mt. Grade 1 metallurgical coke (wet quenching) nationwide average price is 1,120 yuan/mt. Quasi-Grade 1 metallurgical coke (wet quenching) nationwide average price is 1,030 yuan/mt.
In terms of supply, coke enterprises maintain normal production with smooth shipments. Downstream procurement enthusiasm for coke has increased, and coke inventories at coke enterprises continue to decline. In terms of demand, environmental protection-driven production restriction policies combined with blast furnace maintenance have caused a slight decrease in steel mills' pig iron production. However, steel mills maintain relatively high profitability with limited downside room for pig iron output, creating rigid demand for coke in the short term. Overall, coke market fundamentals remain moderate, with some coke enterprises showing reluctance to sell. The short-term coke market is expected to hold up generally stable with slight rise.