[SMM Daily Coke and Coal Brief Review] 20250711

Published: Jul 11, 2025 17:27

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[SMM Daily Review of Coke and Coal] In terms of supply, some coke producers have incurred losses and are still maintaining production restrictions. However, their shipments have been smooth recently, and coke inventories at coke producers have continued to decline. Demand side, the demand for finished steel products remains resilient, with moderate steel mill profits. Additionally, the futures market has held up well recently, and steel mills have shown good enthusiasm for coke procurement. In summary, the fundamentals of the coke market are tending towards balance. Some coke producers have strong reluctance to sell, coupled with the futures market's upward pull, driving market sentiment higher. Leading coke producers have already initiated price increases, and the coke market is expected to remain stable or strengthen in the short term, with another round of price increases anticipated next week.

[SMM Coking Coal & Coke Daily Briefing]

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/mt.

In terms of raw material fundamentals, some rectified mines have resumed production, with supply expected to increase. Market transactions remain active, coking enterprises' procurement enthusiasm has improved, and mine shipments are smooth. Market sentiment is positive, with auction transaction prices generally rising. Short-term coking coal prices are expected to test marginal increasesZ5/>Coke Market:

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

Supply side, some coking enterprises are operating at losses and maintaining production restrictions, though recent smooth shipments have led to continuous inventory reductions. Demand side, finished steel market shows resilient demand, steel mill profits are moderate, and the recent bullish futures market performance has boosted steel mills' coke procurement enthusiasm. Overall, coke market fundamentals are trending toward balance. Strong price-holding sentiment among coking enterprises, coupled with futures market rallies, has elevated market sentiment. Leading coking enterprises have already initiated price increases, with short-term coke market expected to stabilize or strengthen. Another round of price increase initiatives is anticipated next week. [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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