[SMM coal and coke daily briefing] 20250715

Published: Jul 15, 2025 17:14

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[SMM Daily Briefing on Coal and Coke] In terms of supply, some coke enterprises maintained production restrictions to a certain extent due to losses, and the enthusiasm for downstream procurement increased. Coke enterprises had smooth shipments, and their own coke inventory continued to decline. Demand side, pig iron production in steel mills' blast furnaces remained high, creating a rigid demand for coke. Additionally, traders diverted cargo sources, and the overall enthusiasm for downstream procurement was good. In summary, there is a high possibility of implementing the first round of coke price increases, and the short-term coke market may hold up well.

[SMM Coking Coal & Coke Daily Commentary]

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, production at some mines has declined due to safety inspections. Benefiting from coke price hikes, coking coal demand remains robust, with mines experiencing inventory drawdown and significantly eased sales pressure. Some coal varieties face tight supply conditions and offer favorable cost performance. Despite price rebounds, downstream procurement enthusiasm remains high, suggesting the coking coal market may maintain a generally stable with slight rise trend in the short term.

Coke Market:

Premium metallurgical coke (dry quenching) nationwide average price stands at 1,440 yuan/mt. Premium-standard metallurgical coke (dry quenching) nationwide average price is 1,300 yuan/mt. Premium metallurgical coke (wet quenching) nationwide average price reaches 1,120 yuan/mt. Premium-standard metallurgical coke (wet quenching) nationwide average price sits at 1,030 yuan/mt.

In terms of supply, production restrictions remain at some coke plants due to losses, while downstream procurement enthusiasm has improved, enabling smooth coke sales and continuous inventory drawdown at coke producers. On the demand side, steel mills' blast furnace pig iron output maintains high levels, creating firm demand for coke. Coupled with cargo diversions by traders, overall downstream procurement enthusiasm remains strong. In summary, the first round of coke price hikes is likely to be implemented, and the short-term coke market may hold up well.

[SMM Steel]

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