[SMM Daily Coke and Coal Brief Comment] 20250714

Published: Jul 14, 2025 17:19

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[SMM Daily Coke Market Briefing] In terms of supply, recent losses have widened for coke producers, prompting some to voluntarily implement production restrictions, thereby tightening coke supply. On the demand side, despite the lack of a formal document regarding production restrictions in Shanxi, steel mills have maintained a relatively high level of pig iron production, creating a need for restocking. In terms of news, mainstream steel mills in Hebei and Shandong intend to postpone the first round of coke price increases to this Friday (July 18th), accepting an increase of 50-55 yuan/mt. The previous proposed increases of 70-75 yuan/mt and 90-95 yuan/mt by coke producers last week remain subject to discussion. In summary, coke producers have experienced good sales, coupled with strong cost support. The short-term coke market may hold up well, and a consensus has been reached on the first round of coke price increases.

[SMM Coal & Coke Daily Briefing]

Coking Coal Market:

Linfen low-sulphur coking coal is quoted at 1,210 yuan/mt. Tangshan low-sulphur coking coal is quoted at 1,230 yuan/mt.

On the raw material fundamentals front, coal mines maintain stable production with supply remaining steady. Downstream coke and steel enterprises actively procure coking coal, leading to moderately low inventory levels at coal mines. The online bidding market shows robust transactions with participants actively competing, fostering a positive trading environment overall. Short-term coking coal prices still have upside room.

Coke Market:

National average price for premium metallurgical coke (dry quenching) stands at 1,440 yuan/mt. National average price for quasi-premium metallurgical coke (dry quenching) is 1,300 yuan/mt. National average price for premium metallurgical coke (wet quenching) is 1,120 yuan/mt. National average price for quasi-premium metallurgical coke (wet quenching) is 1,030 yuan/mt.

In terms of supply, recent losses among coke producers have widened, prompting some to voluntarily impose production restrictions, leading to a tightening of coke supply. On the demand side, despite the lack of an official document regarding production restrictions in Shanxi, steel mills maintain high pig iron production levels, necessitating restocking needs. Regarding market developments, mainstream steel mills in Hebei and Shandong intend to postpone the first round of coke price hikes to this Friday (July 18), accepting an increase of 50-55 yuan/mt. Last week's proposed hikes by coke producers of 70-75 yuan/mt and 90-95 yuan/mt remain subject to further discussion. In summary, coke producers are experiencing favorable sales coupled with strong cost support. The short-term coke market is likely to hold up well, with consensus reached on the first round of price increases.[SMM Steel]

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